Level Finance

LVL Auction

Acquire LVL from the DAO Treasury with USDT
For each Dutch auction (reverse price auction), the quantity of LVL auctioned will be capped to a fraction of the previous day’s trading volume. The starting price of LVL for the auction will be at 150% of the highest trading price from the previous day and the floor price for the auction will be the lowest trading price from 24 hours before the auction start.
The proceeds (X$) will be used to deepen protocol liquidity in the following way:
- 25% of X$ will be paired with LVL from the treasury to create a new LVL/USDT liquidity pool
- 75% of X$ will be added to the Senior tranche
All proceeds from Treasury auctions are 100% owned by the DAO.
Bidders must hold USDT in their wallets. There is a 24 hour vesting for LVL tokens acquired via the auction.
When an auction is finalized successfully all participants will get LVL tokens based on their committed USDT and the last clearing price during the time when all tokens were sold.
  • Auction Asset: LVL
  • Pay in USDT
  • Style: Dutch Auction (Reserve Price Auction)
  • Time:
    • Monday 2PM UTC
    • Wednesday 10 PM UTC
    • Friday 8AM UTC
  • Duration: 24 hours
  • Vesting: 24 hours
An Auction is finalized successfully after all tokens have been sold before falling under the floor price
  • If the auction is finalized successfully, tokens will be vested for 24 hours
  • If the auction failed (total LVL amount has not been sold), every participant will be able to claim their committed USDT after the auction timer has ended