The Alvara DAO

Every week, Alpha BSKTs participate in the gauge weight voting system. veALVA holders can use their voting power to direct the incentives to their chosen BSKT(s).

When the weekly vote ends, the emissions for that week are allocated based on the results, and each BSKTs respective rewards are distributed to the LP holders of those BSKTs, based on their LP share percentage of the BSKT.

If BSKT A receives 10% of the weighted votes, and I hold 50% of the LP tokens for BSKT A, I will receive 50% of the rewards allocated to the BSKT. A simple example would be if 100 ALVA tokens were distributed, 10 tokens would be allocated to BSKT A LP token holders, therefore I would receive 5 tokens for the week.

To upgrade to an Alpha BSKT, you must submit a proposal to the DAO. Anyone with 3000 veALVA or more can submit this proposal. To see our template and guide for this proposal, check our Discourse topic on upgrading to Alpha BSKTs here:

Gauge weight voting is a style of voting where rather than a traditional Yes/No answer, voters can instead spread their vote power across multiple options. At the end of the vote, the total vote power allocated to each BSKT is then used to calculate the percentage of the weekly incentives allocated to the LP holders of each BSKT.

To vote, you must have veALVA, which you can get by locking your ALVA. Click Lock at the top of the page to open the staking site in a new tab. The voting takes place on our Snapshot page linked below. Every Monday the weekly vote will go live, and will last 5 days. The following Monday, the previous weeks rewards will be distributed according to the vote results.

A total of 44% of the ALVA token supply is allocated to BSKT incentives, distributed weekly over 31 years. As part of our first phase of the DAO, tokens will be airdropped, however in Phase Two, this page will be replaced with a claiming portal so you can claim your rewards whenever it is convenient for you. Coming soon.