Odaily Planet Daily reports that Lorenzo Protocol has officially launched its on-chain governance system, Lorenzo Governance, alongside the opening of voting for its first governance proposal. The proposal aims to shorten the vesting periods for six token categories—rewards, investors, ecosystem and development, team, treasury, and advisors—to accelerate token release in response to community demand. If approved, Lorenzo’s tokenomics will upgrade from V2 to V3, immediately increasing the total supply and circulating supply by 454.8 million tokens, a rise of approximately 21.66%. veBANK holders can directly participate in protocol decisions through on-chain voting; this voting period runs from May 12 to May 17.
Lorenzo Protocol Launches On-Chain Governance System; First Proposal Opens for Voting
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Summary
The Lorenzo Protocol has announced a protocol update with the launch of its on-chain governance system, Lorenzo Governance. The first on-chain proposal is now open for voting, aiming to reduce vesting periods for six token categories. If approved, the token economy will upgrade from V2 to V3, increasing the total and circulating supply by 454.8 million tokens. veBANK holders can vote directly from May 12 to May 17.
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