STIP-7: Replace tSYMM token with RVLV Token and veToken Model

Summary

This proposal replaces the SYMM token with a new governance and incentive token, RVLV, and launches an updated veRVLV vote-escrow system. The new token model introduces long-term alignment, bribe-driven governance, and protocol fee capture mechanisms.

Motivation tSYMMs future as a token was lost with the wallet compromise. tSYMM also lacked utility and struggled to align incentives across users, LPs, and partner protocols. RVLV introduces a capped token with powerful governance utility via vote-escrow, and lays the foundation for a bribe market and protocol-owned liquidity flywheel.

Proposed Token distribution and Changes

• Deploy RVLV with a fixed capped supply equivalent to existing tSYMM supply at time of snapshot
• Distribute 1-year locked veRVLV positions 1:1 for tSYMM holders that had more than 10 tSYMM at the time of the snapshot
• Distribute equivalent amount of wTLOS to account for wTLOS side tSYMM-wTLOS LP positions
• Distribute RVLV directly to community treasury based on it’s tSYMM holdings at the time of snapshot

Governance and Emissions

• Launch veRVLV: users lock RVLV to gain voting power and boosted rewards
• Weekly emissions directed by veRVLV votes to whitelisted gauges
• Bribes and vote markets incentivize governance participation

Protocol Fee Loop

• Protocol collects swap fees
• Fees used to:
  • Buy back RVLV from market
  • Fund bribes or direct emissions
  • Reward long-term lockers

Benefits

• Bootstraps deep, sticky liquidity via ve-aligned rewards
• Empowers protocols to compete for incentives via bribes
• Creates self-reinforcing feedback loop for RVLV demand and usage

Implementation Timeline

• RVLV deployment and veRVLV contracts targeted ASAP
• Airdrop snapshot (already done) and distribution process begins post-approval
• Bribe market and emissions voting follow initial rollout

FOR: Replace tSYMM with RVLV, launch veRVLV model and fee loop AGAINST: Keep tSYMM token and existing model or keep working towards an alternative