Level Overview
Level is the leading stablecoin protocol powered by blue-chip lending protocols.
Last updated
Level is the leading stablecoin protocol powered by blue-chip lending protocols.
Last updated
Level is a stablecoin protocol that issues lvlUSD, a stablecoin that allows users to earn low-risk yield from blue-chip lending protocol. Level seeks to deliver superior risk-adjusted yield while increasing utility and capital efficiency through deep integrations with leading DeFi protocols.
lvlUSD is designed to be fully backed by USDC and USDT, the largest and most liquid fiat-backed stablecoins. lvlUSD can be permissionlessly minted only with USDC and USDT, which form the lvlUSD reserves and are used to generate yield in lending protocols.
The lending yield is passed back to users through an ERC-4626 staking mechanism. lvlUSD can be staked to receive slvlUSD, which accrues yield by appreciating in value as the protocol distributes yield into the staking contract.
Both lvlUSD and slvlUSD can be freely transferred, traded, swapped, and used in DeFi protocols that have integrated them.
Users can currently interact with the Level protocol and Level assets in the following ways:
Acquire lvlUSD – Swap, trade, buy or sell lvlUSD on decentralized exchanges (DEXs) or permissionlessly mint lvlUSD using USDC or USDT. Redemptions are currently permissioned.
Earn Level yield and rewards – Stake lvlUSD to receive slvlUSD and earn Level yield or deposit lvlUSD into the farming contract to farm Level XP.
Use in DeFi – lvlUSD and slvlUSD can be used in integrated DeFi protocols such as Morpho, Pendle, Spectra and Curve.