General FAQ
Most Frequently Asked Questions
General
Q: I have a partnership request. How can I proceed? A: Please submit partnership requests via this Typeform.
Q: I’m interested in career opportunities at Level. Where can I apply? A: Send your resume and details about your skillset to: hello@level.money.
lvlUSD Basics
Q: What backs lvlUSD? A: lvlUSD is minted exclusively with USDT or USDC, maintaining a strict 1:1 backing. Every lvlUSD in circulation is fully collateralized by an equivalent USDT or USDC in Level's reserves. These reserves are deployed in lending protocols like Aave to generate yield. The receipt tokens from these protocols (e.g. aUSDT or aUSDC from Aave) are then wrapped to become yield-accruing assets. A portion of these wrapped tokens (waUSDT or waUSDC) is subsequently restaked in Symbiotic.
Q: How can I acquire lvlUSD? A: You can buy lvlUSD through the Level app or swap USDC for it on Curve.
Earning & Staking lvlUSD
Q: How is yield generated? A: Currently, yield is earned from USDC and USDT supplied on Aave. In the future, the yield may be enhanced as part of the Aave's receipt tokens are restaked on Symbiotic.
Q: How do I earn yield? A: Stake lvlUSD at https://app.level.money/earn to receive slvlUSD, which accrues yield. slvlUSD increases in value over time, and when you unstake, you receive more lvlUSD than you initially deposited.
Q: How do I collect my yield? A: Your yield is automatically included when you unstake slvlUSD — you’ll receive your original lvlUSD plus the accumulated yield. Until then, slvlUSD continuously grows in value as it accrues yield.
Q: What is the cooldown period for unstaking slvlUSD? A: 7 days.
Q: How often are slvlUSD rewards and APY calculated? A: Rewards and APY are calculated weekly.
Q: How often is yield distributed? A: Weekly.
Q: What do I receive when I withdraw? A: When you unstake, you’ll receive your original lvlUSD plus the additional lvlUSD generated as yield.
XP & Rewards
Q: What is XP? A: XP (Experience Points) is Level’s system for tracking user contributions to the protocol.
Q: How do I earn XP? A: You can earn XP by participating in the XP farm at https://app.level.money/farm. XP is awarded based on the activities described here.
Q: When can I stop XP farming? A: You can stop XP farming anytime by withdrawing your assets. However, the XP you’ve already earned remains.
Q: Is there a referral program? A: Yes! You receive 12.5% of the XP earned by anyone who signs up using your unique referral link. Referees get a 1.3x XP boost when joining through a referral link.
APY & Yield Calculation
Q: What determines my actual APY? A: Several factors influence APY, including:
The amount of lvlUSD distributed to the staking vault → More distribution = higher APY.
The total amount of staked lvlUSD → More staked lvlUSD = lower APY (since yield is split among more users).
The duration of your staking period.
Q: How is APY calculated? A: slvlUSD APY is determined as follows:
Protocol revenue rewarded to slvlUSD divided by daily average slvlUSD market cap since the last reward distribution, annualized with compounding. Past performance does not guarantee future results.
APY is updated weekly. Not available for U.S. persons.
Troubleshooting & Miscellaneous
Q: How many decimal places should I use when depositing or withdrawing assets? A: If you encounter issues, try removing a few decimal places from the transaction amount.
Q: Why is my slvlUSD balance lower than the lvlUSD I deposited? A: slvlUSD accrues yield by increasing in value, not by increasing in quantity.
When you stake lvlUSD, you receive an equivalent value in slvlUSD.
Since slvlUSD appreciates in value over time, the amount of slvlUSD you receive will be less than the amount of lvlUSD you staked.
When you unstake, you receive the original lvlUSD plus yield, reflecting the growth of slvlUSD.
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