Alvara is a decentralised autonomous organisation (DAO) that is governed by ALVA token holders who have staked their tokens to receive veALVA.
veALVA holders can participate in the management and development of the protocol. The Alvara DAO makes decisions regarding the distribution of ALVA rewards and the allocation of veALVA to different decentralised BTS platforms that have been deployed via Alvara's platform.
To vote on proposals, you must hold veALVA. However, anyone can view the proposals on the platform. Proposals can be made by any user who holds a minimum of 2000 veALVA, and any user holding veALVA can vote on a proposal.
The quorum for the Alvara DAO is 20%, which means that at least 20% of the veALVA holders must participate in a vote for it to be valid. This quorum can only be altered via proposals made to the DAO. The pass rate, which is the percentage of votes required for a proposal to be successful, is 51%. This pass rate can also be altered via proposals to the DAO.
Enacted proposals can be reversed by submitting another proposal that meets the same pass rate and quorum requirements.
To summarise, the Alvara Protocol's governance structure provides a transparent and democratic way for token holders to participate in decision-making. The Alvara DAO, as a decentralised autonomous organisation, ensures that the protocol's development and management aligns with the interests of its users.