LEVEL DAO Receives $400,000 Investment
We are excited to announce the third investment in LEVEL DAO just a day after securing our second investment, further propelling our position as a leading decentralized trading platform. This latest investment is a strong indication of LEVEL’s growing demand and market fit, following a month of impressive all-time-highs in daily fees, TVL, and open interest.
Generally, in start up investment scenarios, the development team directly receives investment capital. With LEVEL, all investment capital is accumulated in the DAO Treasury fund. This approach generates value for the participants of LEVEL directly.
We are particularly excited about this investment, as it underscores our continous commitment to building the most advanced and user-friendly decentralized trading platform, accessible across various DeFi ecosystems. With this investment, we are confident in our continued momentum and anticipate accelerating our growth in the months to come.
Investment Terms
The following investment terms have been agreed upon:
▶ The investor has agreed to acquire 121,212 LVL at the TWAP of $3.30 per token.
▶ The investor has financed the $400,000 purchase by paying $400,000 in BUSD tokens.
▶ Purchased tokens have a 6 month lockup and 6 month linear vesting period thereafter. To ensure transparency, the address of the investor will be published.
▶ All sold LVL tokens will come from the DAO Treasury Reserve.
All BUSD from the sale will be deposited to the Treasury and managed by the LEVEL DAO.
Use of Proceeds
As the dev team has bootstrapped the project since the summer of 2022, LEVEL launched without any form of external funding. Fortunately, given our users’ enthusiasm for the product and its unprecedented growth, the revenue from LEVEL sustains current development. As we continue to develop and scale the platform, the capital will be directly injected into the DAO treasury, where it can be utilized and deployed into the areas agreed upon by the community, via DAO proposals.
Our latest investor is a genuine supporter of decentralized derivatives protocols and with very deep expertise in decentralized systems. The investor is a pioneer in MEV-related research, and operated an Ethereum mining pool that accounted for 5% of the entire network computing power during Ethereum’s proof-of-work days. In addition to the investment in LVL, the investor will also provide liquidity in the LLP pool, supporting the project growth going forward.
Join LEVEL
As part of the LEVEL DAO Treasury, an itemized allocation of tokens has been set aside under Strategic Partnership. All proceeds are added directly to the DAO Treasury. If you would like to contribute to the LEVEL project, please contact us via social media (see links below) and together we can pioneer the future of decentralized liquidity centers.
LEVEL is the Omnichain Perpetual DEX, enabling fully permissionless, on-chain and non-custodial trading with up to 50x leverage.
At LEVEL, we provide cutting-edge risk management solutions for liquidity providers, allowing you to choose your preferred level of risk and asset exposure. All income generated from trading fees is distributed in the form of real yield to LEVEL stakeholders.
