LeverFi Public Beta Now Live
Dear LeverFi users and community, the highly-anticipated LeverFi public beta is now officially live!
We are excited and thankful for the support of our users and community so far, while we work to bring the latest DeFi innovations to you.
This public beta platform release is aimed at community users who want to test out the LeverFi platform, explore the platform mechanics, and ask questions if needed. We expect user acquisition / onboarding to take place during the next phase of upcoming growth programs.
The live platform has undergone an extended series of tests, on top of gas optimization works, leading up to our public launch. The smart contracts have also been subjected to multiple layers of security checks and verifications, including audits by leading blockchain security firms Peckshield and Beosin, and the LeverFi Guardian Program.
Permissionless On-Chain Leveraged Trading
LeverFi is the first on-chain, cross-margin platform on Ethereum, offering DeFi users a best-in-class leveraged trading platform. In contrast to centralized exchanges, on-chain DeFi leveraged trading offers users full transparency across trade execution, liquidations and asset holdings.
Designed For Traders To Maximize Leverage
Since the LeverFi platform is built with a decentralized smart contract infrastructure, users will experience permissionless leveraged trading without compromising on transparency.
Our first-in-class platform is designed for new and experienced traders alike, allowing traders to generate yield on trading collateral while leveraged trading. LeverFi redeploys trading collateral to platforms such as Convex and Aave to earn yield for traders.
Unified collateral enables cross-margin leveraged trades on top of isolated margin support, allowing users to maximize their trading power. Flash-crash resistance and advanced trading support allow users to leverage trade confidently and flexibly.
Designed For Lenders To Earn Quality Yield
The LeverFi platform focuses on improving the utility and quality of yield for users. Adopting more sustainable ways of achieving real yields, LeverFi allows users to margin lend to earn interest from traders who borrow to leverage trade.
To ensure proper risk management, trading collateral that suffers from negative trading P&L and falls below a liquidation threshold value is immediately liquidated on-chain to repay Lenders to retain safety of principle.
More information can be found in the LeverFi Platform Parameters documentation.
Growth Programs and Ecosystem Expansion
As hinted in our previous blog post, we have queued a series of user growth programs to scale platform utility. These include two key programs that we would like to highlight:
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.
We aim to have these programs ready by mid-December.
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.
The LeverFi platform is expected to expand into new and upcoming L1/L2 ecosystems with LeverSwap, a native-chain DEX with leveraged trading capabilities. We expect leveraged trading on LeverSwap increases utilization and yields for LeverSwap’s liquidity pools, which in turn will attract more TVL and 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.
Start Trading Now
You can start trading immediately on the LeverFi platform at app.leverfi.io.
We welcome all users to share their feedback and ask questions where needed. Feel free to use the dedicated channels set up in our Discord, or reach out to our community managers on our official Telegram.
We are humbled and grateful for the support and vast interest we have received from our community and are powering through to be at the forefront of this evolving DeFi space. Join us as we usher in the latest improvements to the existing DeFi infrastructure, reduced user friction, and enhanced security for our users.
Never miss an update about our latest platform developments; check out our socials:
- Follow us on Twitter to learn more: https://twitter.com/leverfi
- Visit our website to learn about LeverFi: https://www.leverfi.io
- Follow our blog for product updates & DeFi insights: https://medium.com/leverfi
- Learn about the LeverFi product design: https://docs.leverfi.io
- Join our fast-growing community of DeFi enthusiasts on our official Telegram channel.
