Early suggestions for interpretations of the stags included connecting them with the four elements, the four seasons, or the phases of the moon.
In Fáfnismál, during a discussion between Sigurd and Fafnir concerning the minor Norns (apart from the three great Norns), those who govern the lives and destinies of dwarves are also known as "Dvalin's daughters".
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In Hávamál, Dvalin is said to have introduced the writing of runes to the dwarves, as Dain had done for the elves and Odin for the gods.