Details about the Second Round of Lever’s Liquidity Mining and Staking Programs

After weeks of preparation, we are glad to announce that the second round of Lever’s liquidity mining and staking programs are now ready and will be available on Jul. 15, 8 AM UTC (before that there will be an early maintenance which may take about 6 hours). Details are as follows:

  1. Duration: Jul. 15, 8 AM to Aug. 14, 8 AM UTC. (May flexibly extend based on subsequent performance.)
  2. Allocation: a total of 1,000,000 LEV will be distributed across 6 assets, BTC, ETH, BNB, BUSD, USDT, CAKE. (May flexibly adjust based on subsequent performance.)

3. The liquidity mining program will only be available on the BSC version.

4. Minimum claimable amount is 10 and you can only claim your LEV reward once every 24 hours.

5. Your accumulative claimable LEV is subject to the amount of your vLEV (staked LEV). Here is an example:

  • On Day 1, Bob mines 100 LEV. To claim this 100 LEV, he needs to have at least 100 vLEV, i.e., 100 LEV being staked.
  • On Day 2, Bob mines 90 LEV. To claim this 90 LEV, he needs to have at least 190 vLEV as his accumulative claimable has become 190 LEV.
  • On Day 3, Bob mines 80 LEV. To claim this 80 LEV, he needs to have at least 270 vLEV as his accumulative claimable has increased to 270 LEV.
  1. Start Time: Jul. 15, 8 AM UTC and will last for 365 days. (May flexibly adjust based on subsequent performance.)
  2. Allocation: 1,000,000 $LEV for LEV/BUSD LP Staking and 2,000,000 LEV for LEV Single Staking. (May flexibly adjust based on subsequent performance.)
  3. LEV single staking is now subject to 3 different lock-up periods, 3 months, 6 months and 12 months. (No lock-up for LP staking.)
  4. Your staking reward is based on the pool size. Selecting different lock-up periods will offer different reward multipliers, 3 months 1X, 6 months 1.2X, 12 months 1.5X.
  5. You can stake at any time you want. Unlock time and reward for each staking is calculated separately.
  6. During the lock-up, you can claim your LEV reward at any time with no vLEV requirement and time limit.
  7. During the lock-up, you can unstake your LEV but a 50% penalty on your capital will be applied, which will then be either burnt or redistributed to existing stakers. (LP staking is not applied to this rule.)
  8. When the lock-up is expired, no more rewards will be generated and you need to manually unstake your LEV and restake.
  1. Along with the new liquidity mining and staking programs, V2 will also be launched at the same time on BSC.
  2. Up to 5X leverage will be available for certain assets. For now, they are BTC, ETH, BNB, BUSD, USDT and CAKE.

The changes above serve as an exploration to help Lever develop in a faster and more sustainable way. Proper adjustments may be carried out when it is necessary to provide the best user experience for the community.

Site: https://lever.network/
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Twitter: https://twitter.com/LeverNetwork
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The First AMM-Based Decentralized Margin Trading Protocol.