Our mission is to position the DAO as the platform's Asset Manager and ultimate strategic decision-maker of our omnichain ecosystem.
Goals of the LEVEL DAO
To be completely permissionless and decentralized
To ensure democracy and transparency
To act as the centrepiece of the Level ecosystem
To be the ultimate Decision-Maker for strategic matters
To be the Asset Manager of the ecosystem
To encourage stakeholder participation and contribution of expertise
To lead the ecosystem to be a preeminent omnichain marketplace for decentralized liquidity
Initiation of the LEVEL DAO
The LEVEL DAO began as a means to grow stakeholders’ share of governance power by staking LVL tokens for LGO. It then evolved to include deeper functionalities such as managing protocol assets, proposing and voting on governance, and sharing a portion of the protocol’s revenue.
The LEVEL team is committed to ensuring a smooth governance and decision-making transition from our hands to the DAO and community. A gradual process of decentralization is required to make this transition smooth, efficient, and secure. With the support of the DAO and community, the team will retain control over governance for an initial period of several months, at which point the LEVEL community will be sufficiently engaged and mature to face all the challenges of the ecosystem.
Although the allocation of LVL tokens to the LEVEL team has a 4-year unlock duration, with 1/4 unlocking every 12 months, a portion of these tokens (locked or unlocked) can be staked in the DAO. The majority control of governance (via LGO holdings) is ensured in the short term by staking these tokens in line with overall LVL emissions.
This ensures that the LEVEL team holds over 50% of the LGO supply and can safeguard the protocol in its infancy. After the first year, the team’s share of LGO relative to other holders will then be gradually reduced in the following years to a maximum of 25% of the circulating LGO supply.