LVL Batch Auction

Acquire LVL from the DAO Treasury with USDT

Who Can Participate?

Everyone with USDT!

The LVL Batch Auction is a vehicle to deepen the protocol-owned liquidity of LEVEL, by offering Treasury-owned LVL to the public in exchange for USDT. This mechanism was approved by the LEVEL DAO in the LEVELING UP: 1.5 Upgrade Part Two governance proposal.

How Does it Work?

• Asset at Auction: LVL

• Bid Asset: USDT

• Duration: 24 hours

• Time: Will be announced

• Offering a fixed amount of LVL from Treasury to the community, allowing users to exchange assets with the Treasury (USDT <> LVL)

Rules

• The ceiling price of the auction is preset by the protocol

• The LVL token price is determined based on the total amount of USDT raised divided by the total number of LVL being auctioned

• The auction ends when one of the following conditions are met:

  • The auction time ends

  • The token price reaches the ceiling price

• After the auction is finalized, LVL tokens are distributed to participants proportionally to their contribution to the pool

• The USDT obtained by the Treasury is then allocated as follows:

  • 25% is paired with LVL from the treasury to deepen LVL/USDT Treasury-owned liquidity for the LVL utility token

  • 75% is converted to Senior LLP, deepening Treasury-owned liquidity for traders on the platform

• LVL tokens acquired via the auction are vested to participants for 24 hours after the auction has been finalized

• If the last bidder enters a USDT amount that corresponds to an overall price that is larger than the ceiling price, the unused amount will be refunded