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Rebase Protection

Orvex uses rebase protection to help aligned governance avoid excessive dilution as new oORVX emissions enter the system.

The idea is simple:

  • oORVX emissions create future claims on liquid ORVX and governance.
  • Without a protection mechanism, long-term aligned governance can be diluted as new emissions are converted over time.
  • Rebase protection exists to offset part of that dilution for eligible vault participants.

Rebases are vault-only. Solo veORVX holders are not eligible. Only participants in the Autovote Vault receive rebase protection.

The percentages and numbers below are illustrative. Final Orvex parameters will be announced in the tokenomics section before launch.

Example (illustrative only)

Imagine:

  • You hold a governance position through the Autovote Vault
  • During the epoch, the protocol emits additional oORVX
  • Over time, those emissions can be exercised into liquid ORVX or converted into Permanent governance accounts

Without any anti-dilution protection, your relative share of aligned governance can be diluted as new claims enter the system.

With rebase protection enabled for the vault:

  • The vault can receive additional rebase credit according to the active protection schedule
  • That protection helps preserve part of the vault’s governance position as the system expands

The purpose of this design is to:

  • Reward aligned capital that stays inside the vault system
  • Reduce the “free-rider” effect from short-term participants
  • Keep long-term governance meaningfully exposed to the protocol, even as emissions expand supply

Full details of Orvex’s actual rebase parameters and schedules will be documented in the tokenomics section once they are finalised.