Skip to main content

Voting

Orvex introduces updated voting mechanics that go beyond the typical veNFT-only model.
The system is designed to make governance easier to use, while still giving power to long-term lockers.

veORVX holders have two main options:

  1. Vote directly for specific liquidity pools and claim the associated rewards.
  2. Delegate their voting power to a manager for a more “set-and-monitor” experience.

This allows users who do not want to optimise every epoch themselves to still take part in the flywheel.

Voting APR

On the Orvex UI you will see a column showing Voting APR for each gauge.
The idea is to show how attractive a given pool is for voters, based on current external incentives.

A common form of the calculation is:

Voting APR = (TVB / TV) × Weeks / ORVX price × 100%

Where:

  • Weeks ≈ 52.179 (number of weeks in a year, if epochs are weekly)
  • TVB = Total value of bribes / external incentives in USD for that gauge in the current epoch
  • TV = Total number of votes (veORVX weight) cast on that gauge
  • ORVX price = ORVX price in USD, as read from an external source

In plain terms:

  • Higher bribes with the same vote weight → higher voting APR
  • More veORVX voting on the same pot of bribes → lower voting APR

It is a signal, not a guarantee. It helps voters see where their veORVX might currently earn the most per unit of voting power.

Rewards

Voting comes with several reward streams:

  1. Directing emissions:
    Your votes decide how a share of protocol emissions are allocated across gauges. By voting for specific pools, you help route incentives towards the pairs you care about.

  2. Pro-rata share of trading fees: veORVX voters receive 100% of the trading fees generated by the pools they vote for. Fees are not shared with LPs.

  3. Pro-rata share of external incentives (“bribes”):
    When you vote on a pool, you become eligible for a proportional share of all bribes added to that gauge by third parties during the epoch.

General rules:

  • A snapshot of votes is taken per epoch.
  • You must have your vote in place before the snapshot to qualify for that epoch’s rewards.
  • Trading fees and bribes for a gauge are typically claimable as a lump sum after the epoch has ended.

Key points to remember:

  • If you do not vote (or delegate) for a given epoch, the gauge will still receive emissions, but you will not receive your share of associated rewards for that epoch.
  • You can update or reset your vote; changes will apply from the next snapshot / epoch according to the protocol's rules.
  • On Status Network, voting transactions are gasless (powered by your Karma tier), so active governance participation carries no gas cost.

Dual governance

Orvex participants engage with two complementary governance layers:

  • Orvex protocol (veORVX) — Lock ORVX to vote on gauge weights, emissions allocation, and pool incentives. This is the primary governance mechanism for the DEX.
  • Status Network (Karma) — Earned through participation, Karma grants voting power over the native yield pool, which funds LP incentives and ecosystem development. Orvex retains a Karma allocation to direct yield back toward its liquidity providers.

Active veORVX voters earn Karma alongside their voting rewards, strengthening their influence across both layers. See Karma & Gasless Execution for more.

Epoch cycle

All voting and rewards operate on a fixed 7-day epoch:

  • Start: Thursday, 00:00 UTC
  • End: Wednesday, 23:59 UTC

At epoch start, a snapshot of all veORVX balances is taken. Voting power is locked for the entire epoch based on this snapshot.

Four phases per epoch:

  1. Snapshot -- veORVX balances are recorded and voting power is fixed.
  2. Voting -- Votes (manual or delegated) must be submitted before the epoch begins to count for that epoch.
  3. Rewards accrual -- Trading fees, incentives, and emissions accumulate throughout the epoch based on vote outcomes and pool performance.
  4. Distribution -- At epoch end, rewards become claimable. A new epoch then begins with a fresh snapshot.

Accounts that do not vote for an epoch do not receive voting-related rewards for that epoch. All calculations reset at the start of each new epoch.