Let clause with defvar

[Heime]

Consider two versions of setting  xiakos.  The let defines local bindings. 
Can the let block be placed outside a defvar or inside.  Does it make a 
difference ?  Although defvar is used to define global variables, can it
be used to evaluating local bindings like let ?  Which version would one
suggest ?

(let ( (orella-waypt
           (questor-path-snip marshal-waypt "orella")) )

  (defvar xiakos
    `( ("GLXKS" . ,(concat orella-waypt "/xiakos"))
       ("GLXKS" . ,(concat orella-waypt "/xiakos")) ))

and

(defvar xiakos

  (let ( (orella-waypt (questor-path-snip marshal-waypt "orella")) )

    `( ("GLXKS" . ,(concat orella-waypt "/xiakos"))
       ("GLXKS" . ,(concat orella-waypt "/xiakos")) ))