LEVEL Roadmap Q1 2023
First of all, thank you for your trust and support as we reached the milestone of crossing $1 million in TVL within just two days of launching on BNB Chain on December 26, 2022.
We have many updates in the works in terms of project features and on the business development and marketing side (have you seen our ongoing airdrop?). We are focused on immediately growing trading volume on the LEVEL DEX. This article addresses several plans and programs to achieve this goal, along with other upcoming updates and news.
Trading Volume Growth Activities
We are introducing several programs and competitions to attract traders to LEVEL DEX:
Loyalty Program
The LEVEL Loyalty Program will establish a positive feedback loop that will contribute to increased trading volume on the LEVEL DEX and result in more protocol revenue. The program will launch on 5th January 2023 with 20,000 LVL rewards per day for the first 10 days! We have released a whole article HERE covering the Loyalty program.
Referral Program
A dedicated page will let users create their unique referral link. Both you and the users you bring to LEVEL will start getting referral points for every swap or trade on the LEVEL DEX. These points will become redeemable for LVL tokens. This program will go live in January 2023 and more details, such as the amount of LVL reward per $1 of trading volume, will be described in the upcoming article.
Trade Race Competition
This mechanism has been created originally by the LEVEL team with the intention of creating a FOMO effect: the bigger the number of subsequent blocks without trading activity on the LEVEL DEX, the bigger the LVL reward. Besides that, it also provides a great utility for LVL via staking in Level DAO. This competition will start in January.
The Trade Race mechanism will reward LEVEL DEX traders as follows:
▶ We set a reward_per_block (in LVL tokens) for our orderBook
▶ Whenever a trade occurs, the trader receives a LVL reward
▶ Traders who trade on block X will get the amount of LVL tokens = (X — last_reward_block) * reward_per_block.
The reward_per_block parameter refers to 1 block (~3 seconds) on the BNB Chain. Whenever no trade occurs during a block, the LVL reward for the next block increases until someone makes a trade and collects the LVL reward.
For example, if reward_per_block = 1 LVL, the rewards are as follows:
- block 1: no trades on LEVEL DEX, 1 LVL reward
- block 2: no trades again, 1+1 LVL reward
- block 3: no trades, 2+1 LVL reward
- block 4: no trades, 3+1 LVL reward
- block 5: someone trades and gets 4+1=5 LVL reward
- block 6: no trades, 1 LVL reward
- block 7: someone trades and gets 1+1=2 LVL reward
- block 8: no trades, 1 LVL reward…and so on
Trade eligibility criteria:
▶ stake at least 2,000 LVL in LEVEL DAO (can be changed)
▶ minimum position size $10 (can be changed)
▶ for leveraged trades: Open Long/Short, Increase/Decrease position
▶ for swaps: Limit Orders only
Trading Contests
We will run weekly and monthly contests to reward our OG users:
▶ Top P&L traders
▶ Top trading volume accounts
Dedicated leaderboard pages with stats will go live in January.
DAO Level Up
Over the coming period, the LEVEL DAO will play an increasingly important role. Our mission is to position the DAO as the platform’s Asset Manager and ultimate decision-maker on strategic matters.
As of 1 Jan 2022, the DAO holds just over $6,000 in accumulated fees, and the number will rise sharply as we grow in trading volume. We are working on updating the DAO interface to include more information about assets controlled by the DAO. In parallel, we’re working on a module that will enable on-chain governance, i.e. proposals and voting on how to manage DAO assets and other platform parameters.
Other Features
Zap-In Feature
The Zap In feature makes adding liquidity to the LVL/BNB pool easy. Imagine you would like to add some liquidity but only have BNB coins in your wallet. Zap In does all the work for you in a single transaction by swapping half of your existing BNB for LVL and depositing them into the LVL/BNB pool. This is convenient for users who want to take a position quickly.
DEX Aggregators Integration
We’re working on getting LEVEL integrated with leading DEX aggregators on BNB Chain, such as 1inch, ParaSwap, FireBird, OpenOcean, and others. Put simply, by checking liquidity across various DEXes on BNB Chain, DEX aggregators provide users with the best swap/trade rates within a single interface. Once LEVEL is integrated with those aggregators, we will see increased trading volume on our DEX.
DeFi Analytics Integration
Integrating with popular third-party analytics sites and tools has become the standard. There’s a multitude of benefits for our users, most notably real-time trading activity insights, analytics, historical data, visualization, benchmarking and more. LEVEL is already found on CoinMarketCap, DefiLlama, DEXTools, DexGuru, and should soon be integrated with DeBank, CoinGecko, and many others.
LEVEL is a decentralized and non-custodial perpetual DEX on BNB Chain with custom risk management and innovative LP solutions. Experience LEVEL’s advanced DeFi venue that offers a great user experience, leverage trading, and real yield. Start trading on LEVEL today and take control of your decentralized trading journey.
🏡 Website: Level.Finance
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