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:
How much ALVA you lock
How long you lock it for
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 At expiry, veALVA reaches zero and the ALVA can be withdrawn.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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