Governance

Alvara is a decentralized autonomous organization (DAO), governed by ALVA holders who have staked their ALVA tokens in exchange for veALVA. The DAO will make decisions regarding the management and development of the protocol, as well as which baskets receive the ALVA rewards during the gauge weight voting - a weekly voting event where users can allocate their veALVA voting power towards any BSKT that has been whitelisted for to receive emissions (i.e. an Alpha BSKT).

Once a user has obtained veALVA they can participate in voting and governing of the platform. Any visitors to the platform can view the proposals boards, however only holders of veALVA will have the opportunity to vote on the proposals. Proposals can be made by any user who holds a minimum of 2000 veALVA.

Decision-Making: ALVA token holders who stake their tokens for veALVA vote on key decisions, such as protocol upgrades and BSKT reward allocations,via an on-chain process. Each veALVA equals one vote. A majority vote (51% of votes cast, with a 20% quorum of total veALVA) approves decisions, which are executed automatically by a smart contract.

Token Holder Rights: Holders must stake ALVA to obtain veALVA and vote; there is no minimum veALVA balance required to participate in voting. No other rights are granted beyond voting. Who can vote?

Anyone holding veALVA can vote on a proposal.

Who can make a proposal?

Users holding more than 2000 veALVA can make proposals to be voted on.

Who can view proposals?

Anyone.

Quorum

The quorum for the Alvara DAO is 20%. The quorum can only be altered via proposals made to the DAO.

Pass rate

The pass rate (percentage of votes required for a proposal to be successful) for the Alvara DAO is 51%. The pass rate can only be altered via proposals to the DAO.

Reversals

Any enacted changes can be reversed by way of another proposal to reverse the change. This requires the same pass rate and quorum as any other proposal.