As you may be aware, Alchemix is in the midst of developing veALCX. Part of this development will introduce a new token that has thus far had a placeholder name of MANA.
From the article:
MANA (Working Name)
The largest change by far is the addition of the MANA token (name is intended to change, suggest something!). MANA brings a new dynamic to gauge voting and unlocking tokens. MANA has the following features:
- Every 1 veALCX of voting power is rewarded a pre-defined amount of MANA per 2 week epoch.
- MANA that has not yet been claimed (ie, minted) by the user may be used to boost their veALCX voting power for gauges only for one epoch. This means a user could boost their voting power to collect more bribes, or to send more rewards to a pool in which the user provides liquidity. There may be a cap on how much they can boost relative to their veALCX power.
- MANA that has been claimed (minted) may be burned to unlock a user’s veALCX BPT tokens early.
- Claimed MANA can ONLY be used for unlocking, NOT gauge voting. Claimed MANA is liquid — this means users who are content with remaining locked may sell their MANA to other users who wish to unlock their veALCX early.
- The emission rate and cost to take various actions with MANA is currently undetermined.
- The DAO may determine if and how it would like to incentivize MANA liquidity.
What we would like from you, our community, are suggestions for what we should name this token. Please list your suggestions below, and then we’ll take our favorites and then we’ll hold a vote to pick the best one. We look forward to hearing your suggestions and ideas!