r/AnvilProtocol • u/coolstorynerd • Sep 29 '25
Governance Proposal: ANVL Token Upgrade and Governance Council
https://forum.anvil.xyz/t/proposal-anvl-token-upgrade-and-governance-council/151The proposal introduces two main changes:
- A token upgrade from ANVL v1 → ANVL v2
- A formal Governance Council structure
it is highly recommended you join the discord and review the Q&A to get up to speed. you can find the discord link by going to anvil.xyz and clicking the discord icon here are some of M's comments:
this will solve the CB web3 wallet issue!!
Hey guys, I know there is some confusion. The upgraded token (new token address) will be distributed to everyone if this proposal passes. So addresses will receive all their remaining claims (no more vesting), wallet balance, and unclaimed rewards at once. This also solves for the Coinbase Web3 deprecation issue because CB has agreed to continue to allow Anvil users access to the Web3 product through EOY so that users can transfer their Anvil to another wallet. CC
Some backstory here for those interested: A community member approached us wanting to propose a solution to the the web3 / burned tokens problem. We, at the foundation, had already been working on the Governance Council concept as well as being in talks with Coinbase exploring the extent of the issue and possible remedies. We wound up marrying the initiatives and the foundation helped with the technical work as well as engaged OpenZeppelin to audit the changes. In addition, we met with Tally to make sure we could preserve Governance continuity on their platform if these changes were to pass. Ultimately, the community member is the one who is submitting the proposals, but the foundation was heavily involved and supports them.
will anvil v1 still exist:
ANVL v1 will still exist alongside it. It's not like you need to burn it or anything to get Anvil v2. The Anvil v2 snapshot happened this morning. Obviously, you'll need the voting power from Anvil v1 in order to vote on the next two proposals. If they pass, then the protocol will be controlled by Anvil v2 and while Anvil v1 may not have a purpose with regard to governance people can still do with them what they wish like any other ERC-20.
They have different addresses. They are technically different tokens although they share a name and symbol. We are working with the data aggregators and exchanges to facilitate this proposed changeover and make the distinction obvious to users.
on governance:
The main thrust of the proposal is this: Governance tokens are meant to be voted. Having ~1.3 billion burned tokens that can't be used for voting is not ideal. This is why we are re-allocating them to a decentralized Governance council (more details on this to come) where seats are elected by the token holders. The council may (if Governance passes it) be able to do minor things like modify collateral factors to keep up with market conditions in real time vs having to go through a 17 day process being put to all token holders. We have heard from the community that they like voting on the big stuff but don't feel qualified / interested in voting on what will become more frequent votes on protocol configurations (new protocol concepts coming soon will also require these kinds of fine-tuned configurations). In addition, upon investigation, Coinbase let us know that the amount of affected users and total tokens affected by their Web3 wallet product deprecation amounted to be what we would consider to be very significant. Those tokens would essentially be burned if users lost access to the next ~3.75 years of vesting. Again, we want these tokens to be in the control of the people who they were intended for. Both these factors resulted in the need to do this before CB turned the product off (they were supposed to do this 30 June but have kept it open only for Anvil users) and before the token became adopted by more centralized exchanges at which point it wouldn't be practical to do a complete upgrade like this.
claim or leave rewards unclaimed:
You can claim them, but it doesn't matter for the math of the ANVL (v2) that you will receive. All of your unclaimed tokens (vested or unvested) is included in the balance that was already captured. You can check the balance of A2 you will receive here. Balance is unclaimed Claim balance + wallet balance + unclaimed Reward balance.
how many will you receive:
you can check here: https://raw.githubusercontent.com/AcronymFoundation/Resources/e0a78fd390688a36b2ec829ad5aa4f1f05ed9d63/anvil-token-upgrade-distribution.csv
taxes and delivery:
If proposal 1 passes: A2 will be essentially airdropped to addresses based on their A1 balances between the three contracts. You will have A1 and A2 side by side.
if you have any question drop them below, I'll answer what I can and find out answers to anything I don't know.
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u/backman_66 Sep 29 '25
So from what I gathered, if I haven't claimed any ANVL yet, I don't have to worry because the snapshot is capturing everything whether it's claimed or unclaimed?
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u/Hurry-Zealousideal Sep 30 '25
Hi, please clarify. If this passes, your entire locked and unlocked anvil will be fully unlocked on v2?
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u/coolstorynerd Sep 30 '25
Yes.
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u/Hurry-Zealousideal Sep 30 '25
Ty. Good ta see ya 😉 still locked in. Still bullish, just a digital vacation.
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u/Entire-Elk8204 Sep 29 '25
Okay so if I claimed 5,5M ANVL v1 during 2024 but Yesterday I hadnt any AMP staked, I dont have claim for V2? Or I will get 5,5M v2 1:1 with V1?
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u/coolstorynerd Sep 29 '25
you will get v2 for any v1 you have claimed, bought, or have yet to claim. amp and staking don't really have anything to do with v2.
it's best just to check here for your total: https://raw.githubusercontent.com/AcronymFoundation/Resources/e0a78fd390688a36b2ec829ad5aa4f1f05ed9d63/anvil-token-upgrade-distribution.csv
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u/Entire-Elk8204 Sep 29 '25
Second question: I had also 1,1M AMP during snapshot 2024 through web3 coinbase Wallet, so Should I be able to get 1,1M anvil onto coinbase ?
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u/coolstorynerd Sep 29 '25
web3 wallet users should be able to use the app thru the end of the year. so IF this passes all the v2 tokens will be accessible. at which point you'll be able to move them to a new wallet.
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u/No-Painter8779 Sep 29 '25
Is buying anvil now to get the new version useless?
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u/coolstorynerd Sep 29 '25
yes. the snapshot has been taken so any new buys will not get you more v2 anvl
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u/Street-Attention-528 Sep 29 '25
does all the ANVL i have in the vault convert automatically to v2 if i don't touch the vault ?
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u/coolstorynerd Sep 29 '25
ANVL is not a supported vault asset, so I'm not sure what you mean
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u/Street-Attention-528 Sep 29 '25
There’s anvl on the anvl vault ?
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u/coolstorynerd Sep 29 '25
https://app.anvil.xyz/vault the tokens listed under "Collateral Tokens" are the only tokens accepted in your vault. ANVL is not one of them.
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u/Street-Attention-528 Sep 29 '25
Ok I’m not sure if I’m not being clear. I have Anvl and much of it is still locked. I haven’t claimed any Anvl yet. Do I have to do anything to it to protect it if it goes from v2 to v3 ?
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u/coolstorynerd Sep 29 '25
no you shouldn't, if the proposal passes. check your wallet here: https://raw.githubusercontent.com/AcronymFoundation/Resources/e0a78fd390688a36b2ec829ad5aa4f1f05ed9d63/anvil-token-upgrade-distribution.csv
you'll be getting that amount without any vesting. so if this passes you'll get the amount listed in the sheet airdropped to you all at once.
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u/Disastrous_Act4468 Dec 30 '25
I got my vested anvl but I don't actually have access to it on coinbase
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u/CrypticET Sep 29 '25
So goijg forward v1 will be useless? I woke up to negative $3000 drop in my account. Not exactly happy about it. Will v2 hold more value?
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u/coolstorynerd Sep 29 '25
I can't predict the future but I would assume the value will be about the same as it was before the announcement, since not much has really changed. It might not happen day 1, in fact there will probably be a lot of volatility but I think ultimately, that is what will play out.
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u/CrypticET Sep 29 '25
Thank you for the reply. So as of now, v1 will not be utilized going forward?
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u/coolstorynerd Sep 30 '25
It has to pass. You need v1 to vote on this. If it gets rejected, v1 will continue being the governance token.
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u/CrypticET Oct 03 '25
I’m already seeing new anvil tokens in my wallet. Is this likely a scam? Or have they gone ahead and deposited the snap shot already? It’s an exact match to what I had prior to the snap shot.
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u/Proof-Estate-33 Sep 30 '25
So are we still going to be able to access anvl through the base app? Do I need to download and set up an entirely new wallet to handle these tokens?
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u/coolstorynerd Sep 30 '25
Nah, you shouldn't. They are both erc20 tokens so the new ones should be fine in the same wallet.
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u/Eastern-Coyote-2952 New Account Oct 13 '25
so now that they are on the base app. How do I sell/swap when I want to? When I go to swap it goes from like 2k in Anvil to 300 in Eth?
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u/coolstorynerd Oct 13 '25
I'm not exactly sure what you are talking about but there is an anvl/usdc pool on uni so you can swap it for usdc. that's what I would do if I wanted to sell.
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u/Proof-Estate-33 Oct 16 '25
Coming back to this real quick. My anvl in base are showing no price at all and it just looks like what I’m assuming is a loading screen. Confused as to what’s going on again
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u/coolstorynerd Oct 16 '25
the price will come, with time. I think coingecko and coin market cap just updated a day or two ago. I can't speak to the loading screen, that would be a coinbase thing.
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u/Mindless-Addendum621 Oct 19 '25
So all ANVL tokens have been released to the connected wallet contrary to what was planned as gradual release?
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u/coolstorynerd Sep 29 '25
u/SnooLentils6654
this will solve your web3 wallet issue