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Account-based voting

Orvex uses an account-based delegation model on top of the vote-escrow system.
Instead of treating each veORVX position separately, all voting power is aggregated at the account level and delegated in one place.

This helps to:

  • Streamline voting:
    Consolidates all voting power for an address into a single, easier-to-manage unit.

  • Enhance governance:
    Makes participation more accessible and better aligned with how users actually manage their positions.

Snapshot-based approach

Account-based voting is implemented using an epoch snapshot system with the following properties:

  • Initial snapshot:
    At the start of each epoch, the protocol records each account’s voting power. This snapshot is the reference for all votes in that epoch.

  • Stable voting power:
    Voting power is fixed for the duration of the epoch. Changes to locks or positions after the snapshot do not affect the current epoch’s votes.

  • Forward planning:
    Users need to plan their voting strategy before the epoch begins, as mid-epoch adjustments will only apply from the next snapshot onward.

  • Participation delay:
    New participants may face an initial one-epoch delay before their voting power becomes active, helping to keep conditions fair and predictable.

Many other protocols rely purely on a veNFT-based voting model, where each veNFT can vote independently, votes can be changed at any time within an epoch and changes take effect immediately. While flexible, that design has some trade-offs:

  • Tedious weekly voting:
    Frequent, granular voting can become a repetitive chore.

  • Higher manipulation risk:
    The ability to move votes instantly during an epoch can make outcomes easier to game.

  • Resource inefficiency:
    Repeated strategy tweaks and vote transactions across many veNFTs can become costly in time and gas.

By using account-based, snapshot-driven voting, Orvex aims to offer a more stable, predictable and fair governance flow that encourages thoughtful participation and strategic planning rather than constant micro-management.