LGO Governance Token
- Earn LGO by staking LVL in the LVL DAO Pool
- Acquire through LGO Auctions, by burning LVL
To ensure a fair launch of the project, there is no pre-allocation or pre-mining of LGO tokens. All users and community members, including the LEVEL development team, are invited to join the LEVEL DAO by staking any LVL tokens they earn.
The emission chart below shows LGO emissions from the project launch to mid May 2023. To align with future strategic plans, the LGO emission schedule can only be changed by a DAO governance vote. Previous impacts from governance proposals are labelled on the chart.
LGO emission since the first 5 months
LGO (pronounced algo) is the governance token for LEVEL. LGO token holders are the de-facto stakeholders of the entire LEVEL ecosystem. LGO Holders form the LEVEL DAO, where through governance proposals, the entire ecosystem and treasury are managed. The LEVEL DAO acts as the decision-maker for LEVEL’s strategic future. These responsibilities include protocol expenditure, treasury management, the nomination of contributors, the control over fees, features, and functionalities of the protocol, as well as security and other matters. Several partnerships, audits, strategic investors, and protocol changes have already been successfully routed through the DAO.
The LEVEL DAO also assumes the responsibility of an Asset Manager for the ecosystem, overseeing all management and access to the DAO Treasury. 30% of protocol revenue is distributed to the DAO Treasury (see Fee Distribution), continuously creating additional value for DAO participants. These fees are added to the DAO Treasury in the form of Senior LLP, which then continues to earn yield for LGO stakers.
Treasury Liquid Assets available in the DAO Treasury (BTC, ETH, BNB, and USDT) are available for redemption by LGO holders.
These Liquid Assets exclude all LVL tokens in the DAO Treasury Reserve. Every 4 weeks there is a 7-day redemption window for LGO holders to redeem their LGO tokens for these Treasury Liquid Assets. Once redeemed those LGO tokens are burned.
LGO holders can stake their LGO to earn protocol fees. 10% of protocol fees generated daily are distributed to this LGO staking pool in the form of Senior LLP, which can be redeemed for any Senior LLP asset here (BTC, ETH, BNB, USDT).
Staking is available on both, Arbitrum and BNB Chain.
Every 1 LVL staked earns you 1 share per second. The total rewards are calculated from 10% of the total fees collected over the 7-day epoch on both BNB Chain and Arbitrum. Your share of these rewards is proportional to your stake.
Rewards are distributed per epoch (7 days). 24h after end of the epoch, users will be able to claim their yield rewards.