> For the complete documentation index, see [llms.txt](https://level-money.gitbook.io/level-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://level-money.gitbook.io/level-documentation/how-it-works.md).

# How It Works

- [lvlUSD](https://level-money.gitbook.io/level-documentation/how-it-works/lvlusd.md): lvlUSD is a stablecoin that is fully backed by USDC and USDT, which are deployed into lending protocols to generate yield.
- [Peg Stability](https://level-money.gitbook.io/level-documentation/how-it-works/lvlusd/peg-stability.md): lvlUSD is designed to be pegged to the US Dollar
- [slvlUSD](https://level-money.gitbook.io/level-documentation/how-it-works/slvlusd.md): slvlUSD is the yield accruing version of lvlUSD
- [Risks](https://level-money.gitbook.io/level-documentation/how-it-works/risks.md): Description of Risks & Mitigations