- Level expands to the Arbitrum network and launches an Omnichain liquidity marketplace.
- The platform has grown significantly, with $1 billion in trading volume and close to $10 million in treasury liquid assets.
- Level plans to introduce an exclusive utility-based NFT series for its community and is developing cross-chain infrastructure for future expansion.
Level, a leading decentralized exchange, announces the launch of its Omnichain liquidity marketplace on the Arbitrum network as part of its strategic expansion to the network. Along with this significant initiative, Level has also disclosed plans to launch an exclusive utility-based NFT series, providing yet another value proposition to its community.
Level’s Success Story
Level‘s rapid expansion can be attributed to its innovative offerings and strong product-market fit. Within the first month, the platform generated a staggering $320 million in trading volume, over $400k in fees, and over 1,000 community members. By day 55, the ecosystem had surpassed $1 billion in trading volume, demonstrating the platform’s broad appeal and market relevance.
Level distinguished itself from competitors by developing its own codebase from the ground up and pioneering the tranche system in DeFi. Level has created a strong protocol growth value momentum-based model by leveraging its innovative dual tokenomics model (LVL and LGO), which perfectly fits a perpetual DEX platform. This is reflected in the simultaneous growth of platform volume and treasury assets, which has resulted in nearly $10 million in treasury liquid assets.
Expansion to Arbitration
The transition to the Arbitrum ecosystem resulted from careful consideration and a DAO vote, taking into account factors such as significant liquidity, an active user base, and significant daily transactions. Arbitrum, the fourth chain by Total Value Locked (TVL), emerged as a promising option for Level’s continued growth.
Level’s On-Chain Overview
Level‘s on-chain activities have yielded significant results. The exchange has made a significant imprint in the decentralized exchange landscape, with a total trading volume of over $17 billion, of which leveraged trading volume accounts for $14.5 billion. The total amount collected has surpassed $22 million, indicating a diverse distribution among stakeholders.
DAO Level & Governance
The DAO is still an important part of Level’s operations and strategy, with over 19 DAO proposals submitted to date demonstrating the platform’s dedication to truly decentralized governance.
The DAO’s decision to expand into Arbitrum, which received 53% of total votes, exemplifies the organization’s ability to adapt to rapid iterations in product and incentive models while keeping up with a rapidly changing marketplace.
Exclusive NFT Announcement
In time with its expansion to Arbitrum, Level is set to release a unique utility-based NFT series in the coming weeks. These NFTs will be allocated exclusively to the Level community based on interactions with the protocol across both Arbitrum and BNB chains.
This series will include three distinct items, each representing a different aspect of Level and thus symbolizing the ecosystem’s various roles.
Future Prospects
Level is developing cross-chain infrastructure, guided by the DAO, to strengthen its position as an omnichain protocol. The protocol is focused on enabling cross-chain fee aggregation for its stakeholders, with plans to migrate the LVL and LGO tokens to the ‘Omnichain Fungible Token’ (OFT) standard.
About Level
Level is an innovative decentralized exchange that aspires to be the premier omnichain trading platform. It is transforming user engagement and trading experiences in the DeFi space by attempting to unify fragmented liquidity across various ecosystems into a single pool.
