Author: Velora Growth Committee (VGC)

• Voting Activity: four new governance proposals (and a test proposal) went up for a vote. Two additional proposals (Epoch 36 Rewards & Gas Refunds) went up for a vote in October but did not close until November, so their data isn’t included in this report. Automated DAO operations (rewards/refunds distributions) continued their regular cadence, although a new approach may be employed going forward.

• Governance Innovation: first brought to discussion last month, SEEDGov’s Futarchy experimentation proposal officially passed its voting period in October.

• Onchain Treasury Analytics: Avantgarde passed a successful governance proposal seeking a subscription to Octav (an onchain treasury analytics service) for the Velora DAO.

• Community Initiatives: Coinciding with the Delegate Activation Program for VLR Growth (DAPG), the community has surfaced interesting discussions, including Pink Brains’ VLR token buyback program idea.

October contained a few high-impact decisions: the community voted to partner with Octav for clear treasury reporting and approved liquidity funding for a Futarchy.fi governance experiment. Potentially high-impact discussions also emerged that have yet to formally progress to a voting period, including an upcoming PIP from WakeUp Labs to discontinue the Gas Refund program and a conversation around a potential VLR token buyback program.

PIP-72 - Liquidity Funding for Futarchy Experimentation in Velora Governance was the first voting opportunity for October. As mentioned in our last monthly recap, this proposal was expected to progress to a formal vote after its forum discussion period was conducted last month. It passed its vote with nearly 400% quorum, achieving a ~51% “For” outcome; the community voted to approve a $50K liquidity ($25K VLR and $25K sDAI) for a 6-month Futarchy pilot. To learn more about this proposal and its implications, read our post from earlier this month.

Gas Refunds and Rewards Distribution for Epoch 35 served as one of the main voting opportunities this month. These proposals are a continuation of the systems established by PIP-55: Reward Mechanism Automation (see the new PIP regarding PIP-55 below). WakeUp Labs regularly submits these proposals each epoch, but this month, there was a delay in distributing rewards and gas refunds. SEEDGov informed the community that both proposals would be submitted as Express Proposals (2-day voting window) to rectify the delay. Both proposals passed their voting period in the first week of the month, reaching 280-380%+ quorum despite the shorter voting window.

PIP-73: VeloraDAO x Octav Partnership for Clear Treasury Reporting was posted to the forums in the first week of the month. In the post, Avantgarde proposed that VeloraDAO subscribe to Octav, an onchain treasury analytics service. It asked for $8,000/year to integrate Velora’s numerous treasury wallets into Octav’s platform. In return, Octav would deliver 12 monthly reports and maintain a real-time dashboard aggregating all DAO assets and transactions. The integration is meant to vastly simplify the tracking of Velora’s finances (currently spanning multiple chains and multisigs) and provide actionable insights for budget decisions. The community response was largely positive. Some recommendations included ensuring quality of analytics and avoiding vendor lock-in, but consensus is that Octav’s reporting will “finally address a long-standing gap in our DAO’s financial visibility.” It went up for a vote in late October, and it successfully passed.

GTF second quarterly report - State of the VeloraDAO was the first major forum post of the month. In it, SEEDGov provided a comprehensive look at the state of Velora governance. The report is broken up into sections on proposals (looking at proposal volume and velocity since 2021), the number of voters, the distribution of voting power over time, forum and staking activity, the establishment of ongoing DAO structures, DAO expenses, and more.

Announcement: Velora’s OP Grant Application was published during the first week of the month by SEEDGov. Originally created as a VGC Mirror article, this post gives an overview of the grant application submitted to Optimism by the VGC on behalf of the Velora DAO. It sought 200,000 OP tokens to broaden routing pathways across the Superchain and deepen stablecoin pools on Optimism Mainnet and Base. Although its AI probability of approval was “high” during its review phase, the application failed to secure a grant. Feedback is being considered for potential future steps.

VLR Token Buyback Program was an initiative proposed by Ignas/Pink Brains in mid-October. The post comprises a detailed research proposal, exploring whether VeloraDAO could implement a buyback-and-burn mechanism to create sustained demand for VLR. The post analyzes comparable programs in DeFi (noting, for instance, the strong buyback narratives in projects like Hyperliquid) and models how a portion of protocol revenue might periodically repurchase VLR from the market. The conclusion of the research is a call to discuss “whether and how Velora should introduce a VLR buyback mechanism.” While no formal proposal has arisen yet, the idea sparked healthy debate. Some community members cautioned about diverting funds that could be used for growth and operations and suggested tying buyback to a transparent formula based on realized/audited protocol revenue and a minimum treasury runway buffer.

Delegate Activation Program for VLR Growth (DAPG) was posted by SEEDGov on October 20th. This post encouraged the DAO and its delegates to jointly work with Laita Labs on the development and marketing of Project Miro and the Velora rebrand, officially coined the “Delegate Activation Program for VLR Growth.” Through this program, delegates should propose concrete and feasible ideas focused on VLR token growth (e.g. enabling new use cases and further adoption, increasing TVL or trading volume, implementing buyback mechanisms and liquidity programs, etc.). Examples of efforts include Velora’s OP Grant Application, the recent Futarchy proposal, and Ignas’ VLR token buyback thread. Delegates can submit their initiatives until November 10th by creating a new independent thread in the Research and Discussion section of the forum. Delegates who do so may receive incentives through the Contributor Points incentive framework established in the VCP Cycle 2.

PIP-XX: Media Coverage – Governance Day | Velora DAO x Modular Crypto became the fourth PIP-related discussion of the month, created by delegate and Operations Lead at Modular Crypto Benibauer3. The post proposes that Modular Crypto (an independent Web3 media and community platform) be used to leverage editorial coverage/social media amplification/reporting on the Velora DAO during Governance Day. The proposal requests a one-time payment of $2,500 USD to be paid to the Modular Crypto team.

PIP-XX: Discontinuing the Gas Refund Program rounded out the month. This discussion from WakeUp Labs proposed the discontinuation of the Gas Refund Program. This effort is meant to simplify operations, maintain a healthier treasury, and reinforce the DAO’s long-term sustainability. The funds previously allocated to gas refunds would remain in the DAO’s treasury. PIP-55 initiated the automation of these proposals; however, the cost-benefit ratio of maintaining the Gas Refund Program has become unfavorable.

October 2025 largely showed governance activity similar to that of August: a moderate amount of proposals/voting opportunities, coupled with a high level of non-voting discussions taking place in the forums.

• 37+ active discussion threads throughout October.

• Peak engagement on a new thread: PIP-73: VeloraDAO x Octav Partnership for Clear Treasury Reporting (21 contributions).

• Highest visibility on a new thread: PIP-73: VeloraDAO x Octav Partnership for Clear Treasury Reporting (218+ views).

• Most contributors: PIP-73: VeloraDAO x Octav Partnership for Clear Treasury Reporting (15 active participants).

• Delegate Platform Updates predictably increased during proposal submission times. 18 delegates offered voting rationales throughout the month.

Moving into November, several key developments are on the horizon for the Velora DAO.

• Futarchy Markets Go Live: With the futarchy pilot approved, expect the first conditional markets to launch around upcoming proposals. The community will soon be able to trade on governance outcomes and protocol metrics. These will be closely watched to evaluate futarchy’s effectiveness as a signaling tool, potentially informing future decisions on integrating prediction markets more formally.

• Treasury Reporting & Management: After the Octav partnership proposal was approved, November is expected to kick off 1 year of professional treasury reporting, giving Velora a clear baseline of its assets post-PSP migration. Combined with Avantgarde’s Treasury Manager role, these steps should help steward the DAO’s financial transparency and proactivity in the coming month.

• Devconnect Argentina – Governance Day: Following the success of PIP-71 at the end of September, representatives and delegates of Velora will participate in Devconnect’s Ethereum “World’s Fair” (specifically the Governance Day 2025 event it sponsored). This opportunity will be used to showcase Velora’s innovations to a global audience and to provide valuable insights/follow-ups emerging from the stage impact.