# Update for the Level Community [Blog Post](https://www.grove.finance/blog/grove-adds-the-level-team-to-accelerate-the-future-of-onchain-yield) Our mission has always been to build and expand access to high quality onchain financial products. Since launching nearly a year ago, lvlUSD grew to a peak market cap of $185M and slvlUSD has delivered an average APY of over 7%. To fully realize this mission, greater scale and reach are required. Today, we are announcing that the Level team will be joining a leading DeFi protocol to accelerate the future of onchain finance. As part of this transition, we will be sunsetting the Level protocol, including lvlUSD and slvlUSD. All users will be able to unstake their slvlUSD and redeem lvlUSD, and all cooldown periods will be reduced to 2 seconds. More details below. The last yield distribution will be on October 2nd, 2025. After that date, users will not receive any yield regardless of whether their assets remain staked. The frontend will remain live until December 15th, 2025. After that date, users will still be able to interact with the smart contracts to unstake and redeem their assets. We are deeply grateful for everyone that has been part of our journey so far and look forward to the next chapter. **For users with funds in Level XP Farm** Users who have lvlUSD or LP tokens for the lvlUSD/USDC or slvlUSD/lvlUSD Curve pools will be able to withdraw from the farm in 2 seconds. This cooldown reduction also applies to any redemptions in flight. Withdrawing from the Level XP Farm for the above tokens will remain a two step process. Withdrawing all other tokens from the farming contract will continue to remain one step. Visit [Interacting with Level Contracts](/level-documentation/user-guides/interacting-with-level-contracts.md) to get started **For users who have staked lvlUSD** The protocol will reduce the time to unstake lvlUSD to 2 seconds. Unstaking will remain a two step process. Note: in-flight redemptions will continue to have a cooldown period of 3 days. Visit [Interacting with Level Contracts](/level-documentation/user-guides/interacting-with-level-contracts.md) to get started **lvlUSD redemptions** The protocol will: * *Make redemptions public:* everybody will be able to redeem lvlUSD for underlying collateral at until December 15. Afterwards, users will be able to redeem by interacting with contracts directly (see [Interacting with Level Contracts](/level-documentation/user-guides/interacting-with-level-contracts.md) for more information) * *Fix redemption rates to 1:1:* whereas we were previously using Chainlink oracles to calculate conversion rates from lvlUSD to collateral, users will be able to convert 1:1 back to the underlying collateral * *Pause mints*: no more lvlUSD will be able to be minted In addition, the redemption cooldown period will be reduced to 2 seconds, and the per-block redemption limit will be increased to 1m lvlUSD per block. Visit [Interacting with Level Contracts](/level-documentation/user-guides/interacting-with-level-contracts.md) to get started. **For integrators** The recommended way to convert lvlUSD to underlying collateral is to call the LevelMinting to redeem instead of selling through liquidity pools. Redemption is a two step process: * LevelMinting contract: [0x9136aB0294986267b71BeED86A75eeb3336d09E1](https://etherscan.io/address/0x9136aB0294986267b71BeED86A75eeb3336d09E1) * First, call `initiateRedeem()` with the following variables: * `asset (address)`: the collateral asset to redeem for. Use USDC's Ethereum Mainnet address `(0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48)` * `lvlUsdAmount (uint256)`: the amount of `lvlUSD` to redeem. `lvlUSD` is an 18-decimal token * `minAssetAmount (uint256)`: the minimum amount of collateral to receive back, to the collateral's precision. For example, to receive back $1 in USDC, input `1e6` * Two seconds later, call `completeRedeem()` with the following variables: * `asset (address)`: the desired collateral asset. Must be the same address you inputted when calling `initiateRedeem()`. * `beneficiary (address)`: the address to receive the collateral asset * *Note: if you call `initiateRedeem()` twice, you will restart the cooldown period* **Interacting with contracts directly** Though the front-end will remain up until December 15th, users will always be able to withdraw their funds by interacting with the smart contracts directly. See here for more information: [Interacting with Level Contracts](/level-documentation/user-guides/interacting-with-level-contracts.md) --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://level-money.gitbook.io/level-documentation/update-for-the-level-community.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.