LEVEL Secures $500,000 Strategic Investment
We are excited to announce the second strategic investment in LEVEL just a month after securing the first investor in January 2023. This marks a significant milestone for LEVEL, as it continues to lead development in becoming the most intuitive and advanced decentralized trading platform, accessible to users across DeFi ecosystems.
In addition to our new strategic partner, this month introduced new all-time-highs across the board, including daily fees, TVL, and open interest. We anticipate that our momentum will only continue to accelerate in the months to come, and see this investment as a strong validation of demand for the product, product-market-fit, and user experience.
Investment Terms
The following investment terms have been agreed upon:
▶ The investor has agreed to acquire 200,000 LVL at the TWAP of $2.50 per token.
▶ The investor will finance the $500,000 purchase by paying 1,630 BNB 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 BNB 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 seek to scale out the platform, we are pleased to apply these new capital injections toward aggressive user acquisition, community outreach, and further product expansion.
The traction so far has been extremely compelling to many investors in the ecosystem, including our new partner. A strong believer and avid participant in decentralized derivative markets, this strategic investor has a long history in the industry as a supporter of some of the earliest layer 1 blockchains, a liquidity provider to many DeFi platforms, and an advisor to many startups in the fintech space. In addition to the investment in LVL, they will also provide liquidity in the LLP pool and serve as a strong advocate of the project going forward.
Join LEVEL
As part of the LEVEL 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 a decentralized and non-custodial perpetual exchange 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. Join LEVEL today and take control of your decentralized trading journey.
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