What is VRLA?
VRLA is the governance and utility token of Varla Protocol. It enables community ownership, protocol governance, and incentive alignment across lenders, borrowers, and liquidators.VRLA uses OpenZeppelin’s ERC20Votes standard (delegation + snapshots).
Tokens held in a
VestingWallet are locked and cannot vote until they are released to its beneficiary.Token Basics
| Property | Value |
|---|---|
| Token Name | Varla Token |
| Symbol | $VRLA |
| Total Supply | 1,000,000,000 |
| Token Standard | ERC-20 |
| Chains | To be announced |
Core Functions
1. Governance
VRLA holders can vote on protocol parameters including:- Risk parameters: LTV tiers, liquidation thresholds, dust limits
- Interest rate strategy: Optimal utilization, rate slopes
- Protocol caps: Deposit caps, borrow caps per chain
- Oracle settings: Staleness thresholds, early-closure windows
- Treasury allocation: Grants, partnerships, ecosystem growth
2. Utility
- Fee sharing: Share of protocol reserve (10% of borrower interest)
- Insurance staking: Stake VRLA in Insurance Fund for additional yield
- Liquidator boost: Higher liquidation bonuses for VRLA stakers
- Fee discounts: Reduced borrow rates for holders (planned)
3. Community Ownership
30% of total supply (300M tokens) is allocated to the community through the Varla Gems airdrop program—rewarding early adopters and active users.Team tokens are subject to cliff and vesting. No tokens are liquid at launch for team/investors.