LEVER Governance Staking Program: Going Live on 16 October!
Rewarding Committed Community Users
We are excited to share that the LEVER Governance Staking Program is launching on 16 October 2023!
This Program is expected to operate for a period of one year, over which the Governance Points (LVR) shall be fully released to the community.
The basis and consideration for the LEVER Governance Staking Program is built around developing a community of long-term committed LEVER holders, prioritizing users who lock up their tokens for longer periods with more rewards, incentives, and a larger voice within the community.
LVR, as an accumulation of Governance Points for the protocol, can be traded, restaked for higher yields, participate in airdrop programs, earn user referral incentives, and be used in protocol governance.
As users participate in the LEVER Governance Staking Program to receive attractive incentives, we expect this to also reduce the circulating token supply, delivering a positive growth flywheel for the ecosystem and LEVER token holders.
To participate in the LEVER Governance Program, users can head to: https://gov.leverfi.io/stake
Governance Staking Program: Participation Details
1) Stake LEVER for xLEVER (Time-Based Multiplier)
Users participating in the LEVER Governance Staking Program can stake and lock up their LEVER tokens to become a Governance Node in the LEVER ecosystem.
Based on different lock-up periods, different multipliers are applied on the staked LEVER tokens to generate xLEVER tokens:
- 30 Days Lock: 1x multiplier (1,000,000 LEVER = 1,000,000 xLEVER)
- 60 Days Lock: 2x multiplier (1,000,000 LEVER = 2,000,000 xLEVER)
- 90 Days Lock: 3x Multiplier (1,000,000 LEVER = 3,000,000 xLEVER)
xLEVER tokens can then be staked to earn Governance Points (LVR).
In effect, a Governance Node who locks up 1,000,000 LEVER for three months can expect to earn the same amount of Governance Points as a Governance Node who locks up 3,000,000 LEVER for one month.
This means that users with less LEVER but willing to make longer-term commitments and contributions can still have strong representation in governance, and have the same voice as larger holders.
2) Stake xLEVER to receive Governance Points (LVR)
The xLEVER tokens can be staked to earn Governance Points, which are accumulated as LVR.
3) Unstaking LEVER Tokens
- Users can unstake their LEVER tokens after the initial lockup period by burning xLEVER tokens into the staking smart contract.
LeverFi: Innovation, Always.
LeverFi is an on-chain, cross-margin platform on Ethereum, offering DeFi users a best-in-class leveraged trading platform with new omni-chain deployments in the pipeline.
With our eyes set on offering innovative opportunities and incentives, we’re thrilled to bring the LeverFi experience to a community of passionate traders like you.
Stay tuned for more updates as we continue to expand to more users globally, and enhance the way traders engage with decentralized finance by following us on our socials:
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