Virtuals launches' 60 day trial ': no need to bet on wealth when issuing coins, full refund if unsuccessful Author: Virtuals Protocol Compilation: Deep Tide TechFlow Deep Tide Introduction: Early founders often had to bet their entire reputation on issuing coins, making irreversible promises before verifying market demand. The "60 Days" framework launched by Virtuals Protocol has completely changed this: the founder publicly builds a 60 day period, during which funds accumulate through transaction fees and optional growth distributions, but the founder retains full control - they can choose to commit to continuing or exit and return all funds to token holders upon expiration. This is a reversible tokenization experimental framework that allows serious AI builders to test encrypted native distribution and monetization methods without assuming irreversible risks. The full text is as follows: Early founders are often forced to invest a large amount of personal and reputational capital before verifying market demand. Traditional accelerators, venture capital, and token issuances typically require early commitment and limited feedback loops. The 60 day plan introduces an experimental path where founders publicly build 60 days, during which real users discover products and capital accumulates through transaction fees and optional growth allocations. At the end of the window period, the founder decides whether to commit or not. If they promise, the token will continue to exist and the funds raised will be unlocked over time for further growth and development. If they do not commit, the token will be liquidated and all raised funds will be returned to the token holders. The 60 Days framework is built on five core principles: Founder Sovereignty: Founders retain full control over whether to commit or withdraw at the end of the 60 day window. Nothing will automatically unlock. Market testing: Demand is formed through real user behavior and voluntary support. Reversible design: Each start-up begins in a fully reversible state. Closing is an expected and reasonable outcome, not a failure condition. Reputation protection: If the project is liquidated, all raised funds will be returned to supporters, and the founder's reputation will remain intact. There are no permanent stains on the chain. Risk and reward are aligned: Supporters support real progress rather than promises. The founder can only obtain capital after choosing to commit. The uplink and downlink are transparently shared. The operation mechanism of the 60 day plan involves each participating founder entering a 60 day public construction and testing period. During this period, the founder needs to regularly build and release product updates, interact with users, collect feedback, iterate, adjust direction, and publish progress reports to maintain transparency in indicators and participate in community reviews. At the end of the 60th day, the founder must declare one of two outcomes: commitment: transition to long-term development. No commitment: if the project is liquidated, all accumulated funds will be refunded. The project can use a standardized bonding curve to launch public tokens. Tokens can be traded during the construction and testing phases. Pricing is dynamically adjusted based on demand. All 60 day startups are conducted on the BASE network. The project was initially run in a private pool. Once the cumulative trading volume reaches 42000 VIRTUAL, liquidity will be migrated to the Uniswap V2 pool to achieve open market access. Token holders can participate in project milestones and performance, but if the founder does not commit, they can still be protected through a refund mechanism. The token economy model of 60 Days is mainly aimed at supporting the long-term sustainability of the founder while maintaining consistency with the incentives of supporters. It consists of three core components: Trading Tax, Automated Capital Formation (ACF), and Growth Allocation (GA). The founders also receive support during the 60 day period and receive allowances through these mechanisms. Transaction tax: All token transactions incur a 1% transaction fee. 30% allocated to the agreement and 70% allocated to the founder (founder transaction tax). The founder's share is locked during the trial period and will only be released after commitment. If the founder does not commit, this allocation will be redirected to the refund pool. This mechanism rewards the founders who complete the plan and prevents unauthorized launches. Automatic Capital Formation (ACF) is an automated financing mechanism that continuously distributes capital to founders based on market participation and trading activities. The released ACF funds are used for operating capital, infrastructure, and early expansion. The allocation of unreleased ACF remains locked in and is not included in the refund calculation until it is officially released. ACF enables founders to gradually raise funds without relying on traditional financing rounds. More detailed information about ACF can be found in the relevant documents. The founder of Growth Allocation (GA) can choose to open up the GA pool, with funding coming from the sale of up to 5% of tokens allocated by their team. Participants deposit USDC in exchange for a fixed public FDV (fully diluted valuation) token distribution determined by the founder. GA funds will be kept in a custodial account until the commitment results are confirmed. If the founder does not commit, the full amount will be refunded. If the founder promises, the funds in the Growth Allocation (GA) pool must go through a mandatory attribution period of six months. After the commitment, the Growth Allocation (GA) token will be released linearly within a 6-month attribution period. If the founder does not commit, all GA funds will be refunded and the attribution will be cancelled. This structure protects founders and early supporters from short-term speculative influences. The subsidy mechanism is to support the founder during the 60 day period, and the founder will receive a subsidy. Every 30 days (the 30th and 60th day), the founder will receive a 10% allowance on the currently collected funds (from transaction tax revenue and released ACF), up to a maximum of 5000 USDC. Example: Calculation on the 30th day: Total collected funds from founder transaction tax income and any released ACF: 35000 USDC10% Calculation: 35000 × 0.10=3500 USDC Cap check: 3500 Founder allowance payment: 3500 USDC Calculation on the 60th day: Total collected funds from founder transaction tax income and any released ACF: 58000 USDC10% Calculation: 58000 × 0.10=5800 USDC Cap check: 5800>5000 Cap Founder allowance payment: 5000 USDC (reaching the cap) Upon reaching 60 days: Result Founder commitment situation processing Founder can choose to commit at any time during the 60 day trial period. Once sufficient appeal and validation are obtained, advance commitment is allowed. If the founder promises: the founder's transaction fee distribution will be immediately released into the founder's wallet, and the ACF funds that have been released will unlock growth distribution (if any), the ownership plan will begin, and the distribution of participants will take effect. The activation of long-term infrastructure and distribution support projects will transition to continuous development commitment, indicating that the founder is ready to pursue long-term execution and accountability. The proportional distribution of growth allocation is based on the contribution of each participant to the growth allocation pool. If the pool is oversubscribed, the allocation will be proportionally distributed, and any unused USDC will be automatically refunded. Proportional distribution calculation: Each participant receives a proportional distribution based on their USDC contribution: Example available growth distribution pool: 50000 tokens GA token price: 0.20 USDC per token Maximum possible fundraising: 50000 x 0.20=10000 USDC Total USDC committed by all participants: 15000 USDC Participant contribution example Alice, committed 5000 USDC | requested 25000 tokens Bob at 0.20 price, committed 4000 USDC | requested 20000 tokens Carol at 0.20 price, committed 3500 USDC | requested 17500 tokens Dave at 0.20 price, committed 2500 USDC | requested 12500 tokens at 0.20 price Total: 15000 USDC | requested 75000 tokens Due to the participant requesting 75000 tokens, but only 50000 tokens were available, the pool oversubscribed by 150% (75000 ÷ 50000). All participants will receive tokens at the same fixed price of 0.20 USDC per token. Example of Proportional Distribution Alice: Ratio: 5000 ÷ 15000=33.33% Token Distribution: 50000 × 0.3333=16667 USDC used: 16667 × 0.20=3333 Refund: 1667 USDCBob: Ratio: 4000 ÷ 15000=26.67% Token Distribution: 50000 × 0.2667=13333 USDC used: 13333 × 0.20=2667 Refund: 1333 USDCCarol: Ratio: 3500 ÷ 15000=23.33% Token Distribution: 50000 × 0.2333=11667 USDC used: 11667 × 0.20=2333 Refund: 1167 USDCDave: Ratio: 2500 ÷ 15000=16.67% Token Distribution: 50000 × 0.1667=8333 USDC used: 8333 3 × 0.20=1667 Refund: 833 USDC If the founder does not commit, the liquidity pool will be emptied at the end of the trial period, and the token issuance will be stopped, triggering a refund mechanism to distribute the accumulated funds to eligible holders. In this case, the project will be officially closed within the 60 day framework and no further capital will be released. If the founder does not commit to a refund mechanism, the remaining funds will be allocated from the accumulated pool to eligible token holders. Accumulated funds come from three sources: Accumulated funds=released ACF funds+founder transaction tax+remaining VIRTUAL founder transaction tax in LP=70% refund of collected 1% transaction fee How to calculate the total refund is composed of funds from two sources: refunds from released ACF funds and founder transaction tax This part is calculated from released ACF funds and founder transaction tax (i.e. 70% of collected token transaction fee). Your share is based on your proportion of eligible holdings: refund (released ACF+founder transaction tax)=(your token holdings/eligible holdings) x (released ACF funds+founder transaction tax) Refund from the liquidity pool (VIRTUAL) This portion is calculated from the remaining VIRTUAL in the liquidity pool (LP). Your share is based on the total eligible holdings, including team initial purchases: refund (LP VIRTUAL)=(your token holdings/eligible holdings (including team initial purchases)) x remaining VIRTUAL in LP. Only the following balance is included in the refund calculation: tokens purchased through public offering are held until the snapshot of the ecosystem airdrop, which is not included in the refund: ACF allocation of team reserved tokens that have not been released from repurchases. Tokens obtained from team initial purchases are only eligible for refunds from the liquidity pool and do not receive ACF or transaction fee refunds. Important Notes ⚠️ Refunds are allocated proportionally based on the relative ownership at the time of snapshot. ⚠️ Due to the possibility of changes in fund balance within a 60 day period, a full refund cannot be guaranteed. ⚠️ Please review the project details and risks before participating. Refunds depend on available funds and do not guarantee a full refund. Reducing the risk of building in the market has always required disproportionate reputation exposure for trustworthy AI founders when issuing tokens. The traditional model requires early and irreversible commitments before product market validation is completed. Once activated, expectations solidify, capital unlocks immediately, and reputation consequences persist regardless of the outcome. This dynamic hinders serious builders. 60 Days aims to substantially reduce this risk. It creates a structured experimental window, where the experiment is expected, reversibility is built-in, and a commitment to remain voluntary. Founders can test distribution, validate requirements, and iterate quickly without permanently anchoring their reputation to unfinished products. Capital accumulates transparently, but access to that capital still depends on clear commitment decisions. For high-level AI teams, it is important to build proxy infrastructure, robot systems, and coordination layers. It allows them to utilize encrypted native distribution and monetization methods without bearing irreversible downside risks in the earliest stages of research and product development. Conversely, supporters support observable progress rather than static commitments. If the belief is strengthened, the project will transition to continuous development. If faith weakens, funds are returned, and reputation damage is minimized. 60 Days redefines tokenization from a one-way release event to a reversible experimental framework. By doing so, it aligns capital formation with the actual way serious AI innovation occurs: iterative, open, responsible, and conditional. aGDP。