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- LeverFi is powered by LEVER, a governance token with no intrinsic value. LEVER has a total token supply of 35 billion.
- To participate in governance, users can lock up LEVER for a period of between 6 months to 48 months to receive xLEVER tokens.
- Each xLEVER token represents one vote in governance.
- Users who choose longer lockup periods receives more xLEVER for the same number of LEVER tokens.
- This means that token holders with a smaller holdings and longer lockups can have comparable governance votes with token holders who have larger holdings, but shorter lockups.
Users participating in governance oversee the following activities:
1) Trading Fees Discount Program
- Traders holding xLEVER in their wallets receive trading fees discounts of between 20-60% on trades executed through the LeverFi platform.
2) Protocol Management Policies
- Addition or removal of new and existing collateral
- Addition or removal of new and existing tradable assets
- Addition or removal of new and existing lending pools
3) New Network Deployments
- Selection of L1/L2 networks for new LeverFi deployments
- Tokenomics structure for native tokens on new networks
- Lenders incentive programs
- Traders incentive programs