Alvara Protocol Launch
Following our first community vote for TPL recently, there is now an opportunity to vote for a project to launch in the Tenset Gem Launch Platform (TGLP)! Introducing Alvara Protocol!
Alvara Protocol is building a groundbreaking decentralised crypto-fund platform that enables the creation and self-management of tokenised basket funds. They have developed a new ERC-BTS “Basket Token Standard”, that allows users to design and mint their unique BTS tokens. Importantly, this standard will be open-source so that anybody can code it and build on top of the infrastructure.
Users can select any tokens that have liquidity to form a part of their BTS, with all selected tokens then being bought, split by the selected weighting within the BTS, wrapped and minted as the BTS token. All of this will be done in one single transaction from the user perspective. Once minted, the BTS token is held by the creator which grants them access to management rights and associated rewards.
Alvara offers a unique platform for both buyers and sellers within its community. The marketplace will allow creators to auction their BTS tokens, while holders can also gain a percentage of the trading fees of their BTS’s liquidity pool via HiveX. Detailed information will be available for each BTS to allow buyers to make inform decisions based on performance.
ALVA is the protocol’s native token, an ERC-20 utility token that features heavily throughout the ecosystem, including access to governance, staking rewards and software portals. It is also included in every ERC-BTS that is minted on the platform with a minimal 5% weighting. This puts deflationary pressure on the supply as with each BTS minted, more tokens are removed from circulation. The ALVA that is included in each BTS is market-bought, as is the case with the other tokens chosen by the creator. It will have further deflation with 0.5% of AUM of all BTS’s minted on the platform used to buyback and burn ALVA, as well as 0.5% platform fees in the BTS Factory and HiveX.
Staking & Governance
The ALVA token can be staked on the platform to access the Staking Rewards Vault. This vault is replenished with a percentage of platform fees, offering weekly rewards for stakers. The rewards are based on the locking period. Alvara also operates as a DAO led by ALVA token holders, with stakers additionally receiving veALVA on top of their normal staking rewards, which can be used to participate in proposals on the DAO.
Tenset Community vote details:
ALVA token details:
More details about the IDO will be shared next week if the project is successfully accepted by the community.
Now is the opportunity for the passionate Tenset community to voice their opinion and decide whether they want to see Alvara Protocol feature on the Tenset Gem Launch Platform! The vote is now live on https://www.tenset.io/en/governance. It is totally in the hands of the community to make this decision, the final say lies with you!
You can find out much more detailed information about Alvara Protocol on their official channels below:
Alvara Protocol Launch
Eighth community Zealy burn!
Alvara Token Claiming Is Live
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