Level Finance
  • Introduction
  • Protocol Revenue
  • Earn Yield
  • Roadmap
  • Tokenomics
    • LVL Utility Token
    • preLVL Unvested Token
    • LGO Governance Token
    • Token Economics Overview
  • LEVEL DAO
    • DAO Treasury
    • Redemption Process
    • LVL Weekly Burn
    • DAO Proposals
  • Auctions
    • LVL Batch Auction
    • LGO Dutch Auction
  • Protocol Fee Structure
  • Platform Risks
  • Incentive programs
    • Fee Credit Program
    • Trading Incentives
      • Weekly Ladder
      • Loyalty Program
    • Referral Program
      • Incentive Emissions
      • Referral Tiers
  • Tutorials
    • What is Omnichain?
    • What is BNB Smart Chain?
    • What is Arbitrum chain?
    • Setting Up a Wallet
    • Trading Tutorials
      • Spot Trading
      • Perpetual Trading
      • Platform Restrictions
      • Pricing Mechanisms
      • Fee
    • Liquidity Tutorials
      • Trading Pool
    • Yield Staking Tutorials
      • LVL Yield Staking
      • LGO Yield Staking
      • LVL/USDT LP Staking
    • preLVL Vesting Tutorials
    • DAO Tutorials
      • DAO Staking (LGO rewards)
      • LGO Redemption
    • Auction Tutorials
      • LVL Batch Auction
      • LGO Dutch Auction
  • Incentive Program Tutorials
    • Referral Program
    • Fee Credit
  • Bridge Tutorials
  • Integration
    • Receive Trading Incentives
    • Receive Referral Reward
  • Security and Contracts
    • Security and Audits
    • Immunefi Bug Bounty
    • Price Oracles
    • Smart Contracts
  • Miscellaneous
    • Team Background
    • Brand Assets
    • Links & Social Media
      • Official LEVEL links
      • Wider Ecosystem Links
    • Level Newsletter
    • LEVEL x Zealy (Crew³)
    • FAQ
    • DAO Changelog
    • Liquidity Bootstrapping
    • Terms of Service
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On this page
  • Goals of the LEVEL DAO
  • Initiation of the LEVEL DAO

LEVEL DAO

Our mission is to position the DAO as the platform's Asset Manager and ultimate strategic decision-maker of our omnichain ecosystem.

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Last updated 1 year ago

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.