Incentivized emissions from the veGauge system are distributed in the form of oLAST, an options token giving the holder permission to purchase LAST at a discount according to the time-based modifier and the governance conversion modifier. Additional discounts may be levied according to onchain reputation in future versions. The oLAST strike price will be determined according to a weekly average market price, and a discount will be assessed at the beginning of each two-week strike period. A natural arbitrage will occur over the course of the two-week strike period, incentivizing users to strike at the beginning of the period to purchase LAST or to use the governance conversion.