LGO Governance Token
Last updated
Last updated
Ticker: LGO
Max Supply: 1,000
Total Supply: Continually reduced via the Redemption Process
Emission: Dynamic LGO emission (cap at 3.5 LGO weekly)
Contract address: see Smart Contracts
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, community members and contributors are invited to join the LEVEL DAO by staking any LVL tokens they earn.
At the end of each epoch, LGO emission will be dynamically set to 80% of the fees that the DAO received during that epoch. This ensures that the emission remains valuable and is tied directly to the activity within the ecosystem. Total weekly reward cap is at 3.5 LGO.
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 (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, which manages the entire ecosystem and treasury through governance proposals. The LEVEL DAO acts as the decision-maker for LEVEL’s strategic future, including but not limited to protocol expenditure, treasury management, the nomination of contributors, the control over fees, features, and functionalities of the protocol, as well as security. Several partnerships, audits, strategic investors, and protocol changes have already been successfully routed through the DAO.
The LEVEL DAO also assumes the role 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) in the form of Senior LLP, which then continues to provideearn yields for LGO stakers, continuously creating additional value for DAO participants.
Treasury Liquid Assets available in the DAO Treasury 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 2-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 all ecosystems supported by LEVEL.
Every 1 LGO staked earns user 1 share per second, proportionally to their stake. The total rewards are calculated from 10% of the total fees collected over the 7-day epoch on all LEVEL supported networks.
Rewards are distributed per epoch (7 days). 24h after the end of the epoch, users will be able to claim their yield rewards.
