Key Takeaways
- Level is a DeFi project that focuses on stablecoins backed by restaked dollar tokens.
- Level’s mission is to merge these two use cases: make it ten times easier to use dollar stablecoins to provide economic security for decentralized networks.
- The Level USD (lvlUSD) is a stablecoin backed by restaked dollar tokens. This means that it is designed to maintain a stable value, typically pegged to the US dollar, by using a mechanism called “restaking.”
Disclaimer: Crypto airdrops are promotional events where tokens are distributed to existing holders of a cryptocurrency or to individuals who meet certain criteria. While airdrops can be a way to acquire tokens at no cost, they also involve risks. There’s no guarantee that the airdropped tokens will increase in value, and there may be associated fees or requirements. Additionally, airdrops can be susceptible to scams and phishing attempts. Always exercise caution and verify the legitimacy of any airdrop opportunity before participating.
What Is Level?
Level is a stablecoin protocol that introduces the concept of being powered by restaked dollar tokens.
The project aims to be the first stablecoin protocol where stability is achieved through a mechanism involving restaked dollar tokens. Restaking here refers to using already staked dollar-denominated tokens (USDT or USDC) to earn additional yield by providing security to other blockchain networks or protocols.
When users mint Level’s stablecoin, lvlUSD, they essentially restake their stablecoin assets. These assets are then used to provide economic security to other decentralized networks, known as Actively Validated Services (AVSs), without the volatility typically associated with cryptocurrencies like ETH or BTC.
lvlUSD holders can earn yields not just from the initial staking of the tokens but also from the additional restaking benefits, which might include rewards from platforms or directly from the security services provided to AVSs.
How To Qualify For An Airdrop?
By participating on their platform, users may be eligible for a future airdrop, though this is not guaranteed.
To join:
👉 STEP 1: Head over to https://www.level.money/dashboard.
👉 STEP 2: Connect your Web3 wallet.
👉 STEP 3: On the “Buy” page, convert your tokens to lvlUSD.
👉 STEP 4: Deposit your lvlUSD through the “Farm” page to earn points OR stake your lvlUSD through the “Earn” page to earn interest.
👉 STEP 5: Keep an eye on official announcements and hope for the best!
Final Thoughts
That’s about it for this airdrop guide! For more potential airdrops like this one, visit our Airdrops page, where we cover only the most legit airdrops happening in the crypto space!
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