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Alandale (veLUTE)

Alandale is the outlaw ve(3,3) DEX on Robinhood Chain, running classic pools and Algebra concentrated liquidity. Locking LUTE mints a veLUTE NFT: holders vote on which pools get emissions and collect the trading fees and incentives from the pools they vote for. The name honours Alan-a-Dale, the minstrel of Robin Hood's band, and the mark is a lute.

What is a veLUTE NFT?​

A veLUTE NFT is a locked LUTE position represented as an NFT with on-chain artwork drawn from the lock's live state; each lock renders as one of four "instrument" designs. Locking LUTE grants:

  • Voting power to direct LUTE emissions to liquidity pools each epoch
  • Trading fees and incentives from the pools you vote for
  • Governance over the Alandale protocol

Buying a veLUTE NFT on veX transfers the whole position (locked tokens, voting power, and pending rewards) in one on-chain transaction.

Trading veLUTE on veX​

  • Chain: Robinhood Chain (an Ethereum L2; gas is paid in ETH)
  • Fees: set per protocol seller fee, shown before you confirm a listing; see the fee structure
  • Zap: pay with other tokens in your wallet; see Zap payments
  • Live listings: browse Alandale on veX

Current discounts and volume for Alandale are on the veX analytics page.

Things to check before buying​

  • Permanent vs dated locks: permanent locks keep full voting power forever; dated locks decay toward their unlock date
  • Voting power vs locked amount: on dated locks, voting power is lower than the locked amount and shrinks over time
  • Current discount vs the market: compare against other live Alandale listings before you commit

How do I sell a locked veLUTE position?​

You can sell a locked veLUTE position on veX without waiting for the lock to expire. The buyer takes over the locked LUTE and the remaining lock time.

Connect the wallet holding the veLUTE and open your veX dashboard. The position appears under Positions, where you can list it. Set a price, or set a discount to the locked value and let veX work out the price. You approve the NFT once, then confirm the listing.

That approval only lets the marketplace move the NFT when someone buys it. veX is non-custodial, so the position stays in your wallet, keeps earning and voting, and you can delist whenever you want. veX charges set per protocol on Alandale sales, paid by the seller.

What is a locked veLUTE position worth?​

A veLUTE position usually sells for less than the LUTE locked inside it, because the buyer is taking on the rest of the lock. The seller chooses that discount.

Live Alandale discounts are on the veX analytics page.

Contracts​

These render from the live veX registry: