LeverFi Upcoming Public Beta
Dear LeverFi users and community, we are happy to share that the public beta of the LeverFi platform is going live on 1st December 2022. We once again thank our users and community for your patience, as we wrap up audits and gas optimization works for the platform.
The public beta for LeverFi allows our community users to try and use the LeverFi platform in its entirety and ask questions where required to familiarize users with the platform.
After the public beta rollout, marketing programs will follow shortly to grow the utility of the LeverFi platform.
Trader Incentives and Gas Rebates Programs
To onboard new traders and users onto the LeverFi platform, we are launching two key user programs: namely the (a) Trader Incentives Program, and (b) Gas Rebates Program, in mid-December.
Trader Incentives Program
- Users who trade BTC and ETH on LeverFi are eligible for incentives based on their respective trade volume rankings.
- Rewards are to be distributed in USDC. More information shall be provided in a follow-up article.
Gas Rebates Program
- Traders who trade BTC and ETH on LeverFi receive up to 50% rebates on gas spent, subject to transaction caps.
- Rewards are to be distributed in LEVER. More information shall be provided in a follow-up article.
Multi-Chain Airdrop Program
In addition to the above user programs, active LeverFi users (both Traders and Lenders) on Ethereum are eligible for the upcoming Multi-Chain Airdrop Program slated for January 2023.
As covered in our Reinventing 2022 Roadmap article early this year, TVL under-utilization remains one of DeFi’s unsolved problems. Real yields for liquidity providers on DEXs and lending protocols, without emissions, are in fact low. Improving TVL utilization is therefore important if we wish to organically increase real yields in DeFi, and make real yields more sustainable.
Going forward, besides Ethereum, LeverFi is expanding into new and upcoming L1/L2 ecosystems as its multi-chain strategy. This means that similar to Aave, there will be native deployments of LeverFi in new ecosystems.
In these new ecosystems, LeverFi will launch LeverSwap, a native DEX, that underpins our leveraged trading layer. All spot and leveraged trades will then be exclusively routed through LeverSwap. This multiplies the utilization rates of LeverSwap’s liquidity pools, which will in turn attract more TVL and improve real yields for LeverFi liquidity providers, creating a virtuous upwards cycle.
Active LeverFi users are eligible for participation airdrops in new ecosystem deployments, and multi-chain swap fees are accrued towards the xLEVER governance program expected to be launched in 2023.
More information around the Multi-Chain Program shall be shared in separate articles in January 2023.
