LEVEL DAO
Our mission is to position the DAO as the platform's Asset Manager and ultimate strategic decision-maker.
- 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 marketplace for decentralized liquidity
The LEVEL DAO began simply in the form of staking LVL tokens for LGO to grow a stakeholder’s share of governance power. This quickly 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 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 unlocks 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 slowly in line with overall LVL emissions.
This staking procedure ensures the LEVEL team holds over 50% of the LGO supply and thus 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.
Last modified 25d ago