Level, a prominent decentralized exchange, announces its strategic expansion to the Arbitrum network, launching its omnichain liquidity marketplace. Along with this significant initiative, Level also reveals plans to introduce an exclusive utility-based NFT series, presenting yet another value proposition for its community.

Level‘s exponential growth has been a testament to its innovative offerings and strong product-market fit. Within the first month, the platform marked a striking $320 million trading volume, generated over $400k in fees, and amassed more than 1,000 community members. By day 55, the ecosystem achieved a staggering $1 billion in trading volume, reflecting the platform’s robust appeal and market relevance.

Setting itself apart from competitors, Level wrote its own codebase from scratch and pioneered the tranche system in DeFi. By leveraging its innovative dual tokenomics model (LVL and LGO), which perfectly fits a perpetual DEX platform, Level has created a strong protocol growth value momentum-based model, reflected in the simultaneous growth of platform volume and treasury assets. This has resulted in achieving close to $10 million in treasury liquid assets.

The move to the Arbitrum ecosystem was a result of careful evaluation and a DAO vote, considering factors such as substantial liquidity, an active user base, and significant daily transactions. Arbitrum, standing as the fourth chain by Total Value Locked (TVL), emerged as a favorable choice for Level‘s continued growth.

Level‘s on-chain activities have shown significant achievements. With a cumulative trading volume of $17.4 billion, where leveraged trading volume comprises $14.5 billion, Level has made a significant imprint in the decentralized exchange landscape. The total fees collected have exceeded $22 million, showing a diverse distribution among stakeholders.

The DAO remains integral to Level‘s operations and strategy, with more than 19 DAO proposals submitted to date, highlighting the platform’s commitment to truly decentralized governance. The DAO’s decision to expand into Arbitrum, which secured 53% of total votes, exemplifies the organization’s ability to adapt to rapid iterations in product and incentive models, keeping pace with a fast-evolving marketplace.

Coinciding with its expansion to Arbitrum, Level is set to release a unique utility-based NFT series in the next few weeks. These NFTs, exclusively designed for the Level community, will be allocated based on interactions with the protocol across both Arbitrum and BNB Chain. This series will feature three distinctive items, each representing different aspects of Level, thereby symbolizing the diverse roles within the ecosystem.

Guided by the DAO, Level is developing cross-chain infrastructure to further assert its position as an omnichain protocol. With plans to migrate the LVL and LGO tokens to the ‘Omnichain Fungible Token’ (OFT) standard, the protocol is focused on enabling cross-chain fee aggregation for its stakeholders.

Level is an innovative decentralized exchange aiming to become a premier omnichain trading platform. By seeking to unify fragmented liquidity across various ecosystems into a single pool, it is transforming user engagement and trading experiences in the DeFi space.

For more information, please visit here.

Twitter | Telegram | Discord

The post Level Advances into Arbitrum: Initiates Omnichain Liquidity Marketplace and Exclusive NFTs appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

192 +