# What is veALVA?

veALVA (vote-escrowed ALVA) is the governance and rewards token of the Alvara Protocol. You receive veALVA by locking ALVA tokens in the staking contract on Ethereum mainnet.

## Why veALVA Exists

veALVA aligns incentives between token holders and the protocol's long-term health. By requiring users to lock their ALVA to gain governance power, the protocol ensures that those with the most influence are also the most committed.

Short-term speculators who buy ALVA without locking have no voting power. Long-term participants who lock for extended periods gain outsized influence.

## What veALVA Gives You

### Voting Power

veALVA is your voting weight in gauge weight voting. Each epoch, veALVA holders direct ALVA rewards to specific BSKTs. More veALVA means more influence over reward allocation.

### Staking Rewards

Stakers earn ALVA rewards proportional to their lock commitment. Longer locks receive a higher share of the Staking Rewards Vault (measured by SRV percentage).

### DAO Participation

veALVA is required to participate in Alvara DAO governance. Proposals on Snapshot are weighted by veALVA balance.

## How veALVA is Calculated

The amount of veALVA you receive depends on two factors:

1. **How much ALVA** you lock
2. **How long** you lock it for

| Lock Period | veALVA Multiplier |
| ----------- | ----------------- |
| 1 Week      | 0.01x             |
| 1 Month     | 0.05x             |
| 3 Months    | 0.2x              |
| 6 Months    | 0.5x              |
| 12 Months   | 1.0x              |
| 18 Months   | 2.0x              |
| 24 Months   | 4.0x              |
| 36 Months   | 8.0x              |
| 48 Months   | 10.0x             |
| Forever     | 2.0x              |

**Example:** Locking 1,000 ALVA for 12 months gives you 1,000 veALVA. Locking the same amount for 48 months gives you 10,000 , ten times the governance power.

## Key Properties

* **Non-transferable:** veALVA cannot be sent, sold, or traded. It is bound to the wallet that locked the ALVA.
* **Decay (time locks):** For time-based locks, veALVA decays linearly as the lock approaches expiry. At expiry, veALVA reaches zero and the ALVA can be withdrawn.
* **No decay (forever locks):** Forever locks maintain their veALVA balance permanently. The locked ALVA is effectively removed from circulating supply.


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