Virtu NetworkPrice

(VIRTU)

Virtu Network, known as Virtu by Virtuals, is a platform designed to provide streamlined access to high-performance computing resources, specifically GPUs and TPUs. It addresses the need for powerful computational capabilities crucial for tasks like deep learning, large-scale data processing, and scientific simulations. The project emphasizes making these resources accessible, private, and user-friendly, solving the challenge of obtaining and managing advanced computing power efficiently.

The VIRTU token serves as the core governance token for the Virtu by Virtuals protocol. Holders can lock VIRTU to receive veVIRTU, gaining voting power in project decisions. Beyond governance, VIRTU offers access to product discounts, opportunities for passive income through staking rewards, and benefits from community-driven initiatives like buybacks and token burns. It can also be used for arbitrage trading and generating yield through lending or additional staking mechanisms.

While Virtu by Virtuals has undergone audits by security firms to bolster safety, all DeFi protocols carry inherent risks such as smart contract vulnerabilities and economic exploits. The main risk for VIRTU stakers is liquidation risk. During a liquidation event, staked VIRTU is proportionally burned to cover the debt of a liquidated vault, with stakers receiving a proportional amount of the vault's collateral at a discount. Users are strongly advised to conduct their own thorough research.

VIRTU is the liquid, transferable governance token of the Virtu by Virtuals protocol. It can be freely traded and used. In contrast, veVIRTU is vote-escrowed VIRTU, which is obtained by locking your VIRTU tokens. This locking mechanism grants users non-transferable voting power, allowing them to participate in the protocol's governance. Essentially, VIRTU is the base asset, while veVIRTU represents staked VIRTU and the corresponding influence in decision-making.

Virtu Network allocates 75% of its revenue to a strategic buyback and burn program. This mechanism is designed to potentially reduce the circulating supply of VIRTU tokens over time, aiming to enhance token value. The remaining 25% of the revenue is reinvested into the project. This portion funds ongoing development, covers operational expenses, and supports various initiatives aimed at the continuous growth and improvement of the Virtu by Virtuals platform and its offerings.

VIRTU tokens can be acquired by minting them directly on the Virtu by Virtuals platform. Additionally, users can swap for VIRTU on decentralized exchanges (DEXs) operating on the Base network. For convenience, VIRTU can also be purchased through LBank's Web3 Wallet or other compatible Web3 wallets. Always ensure you are using reputable and official channels to conduct transactions and safeguard your assets.