The community of Level Finance, the decentralized crypto derivatives exchange, is looking to boost its native LVL tokens' value by transferring over $200 million worth of the coins to its DAO treasury. This proposal began a few days ago, and as of now, 100% of all voters are in favor of the move, showing that this motion is likely to go through. The end of the process is expected to be in mid-April.
This transfer of tokens is furthered by the significant development of Level in the past three months. More than $6 billion of tokens have been traded on the platform, with liquidity providers making a total of $7 million of fees. As a decentralized crypto derivatives exchange, it provides users with the ability to trade financial derivatives such as Bitcoin (BTC) and Ether (ETH) futures, with low slippage and low fees. Additionally, it also provides leverage of up to 30x the initial collateral.
The intent of the proposal is to give control of the tokens to the holders, rather than an allocation of the tokens remain centralized with a single entity, providing them with incentive benefits as a whole. The proposal reads, “Rewards, incentives, as well as all emissions will be made directly out of the DAO. Proposals and delegations of votes will be live, and the community (along with our new ecosystem partners), will collectively materialize the full potential of the project alongside our team.”
Level Finance is the decentralized crypto derivatives exchange that provides users with the ability to trade financial derivatives. The current community is set to vote on transferring $200 million of their native LVL Tokens to their DAO treasury. This vote is predicted to succeed, due to the 100% of all voters who are in favor of the move. This transfer is meant to strengthen the values of the token holders, and incentivize the whole community. Additionally, significant development in the past three months shows that the protocol is tremendously growing. It has a liquidity provision of more than $6 billion and has created collective fees of up to $7 million. As such, Level Finance is likely to become even stronger in the weeks ahead.
Wyatt Alvarez
- 2023-03-30
Level Finance Proposing to Transfer $200M Worth of LVL Tokens to DAO Treasury
The Level Finance community is looking to increase the value of its native LVL tokens by transferring $200 million worth of their coins to the DAO treasury. This proposal has thrilled all voters, showing that it is likely to pass when the voting ends in mid-April.
