V1 Platform Upgrades - Significantly Boost Trader Rewards and Incentives

MOTIVATION

Level is a community-driven liquidity marketplace, and we take pride in being shaped by the very users we serve. Our core mission is to enhance the trading experience and encourage active involvement within the ecosystem. To fulfill this mission, we are proposing a series of strategic updates to our contracts, mechanisms, and user interface. These updates aim to simplify trading, boost trading participation, and prepare for the upcoming Level 2.0 launch.

PROPOSALS

1. Trade for Free With LVL Staking

Simply stake your LVL tokens for a full trading epoch, and enjoy leverage trading without any fees. Each staked LVL grants you the ability to trade $60 in notional value, absolutely free, every epoch.

2. Referral System and Reward Duration Alignment

Align the referral system's starting epoch to Wednesdays at 2 PM UTC and adjust lyLVL duration to a 7-day cycle to synchronize with the trading epoch.

3. Scale-up of lyLVL Rewards

Increase preLVL rewards for lyLVL from 10,000 per day to 210,000 per epoch for 8 weeks, enhancing trader incentives significantly.

4. Revamp of the Trading Ladder

Shift the focus of the Trading Ladder from daily trading fees to total trading volume per epoch (excluding swaps), with a rescaled reward system to last for 8 weeks:

• $0M: 20,000 preLVL
• $50M: 40,000 preLVL
• $100M: 60,000 preLVL
• $150M: 80,000 preLVL
• $200M: 100,000 preLVL
• Additional 20,000 preLVL for every extra $50M in trading volume, capped at 200,000 preLVL per epoch.

5. User Interface Enhancements and Rebranding:

Rebrand the rest of the platform to the Level 2.0 color scheme and split the site into two distinct domains to focus on trading features (app.level.finance) and community governance (dao.level.finance). Simplify the trading dashboard for user engagement and enhance the governance dashboard with platform statistics, DAO proposals, and staking opportunities.

6. Staking and Liquidity Simplification:

Streamline staking and liquidity options to appear as a single pool through UX design, reducing complexity and enhancing user clarity.

EXPECTED OUTCOME

The proposed updates aim to:

• Create a more user-friendly and focused trading environment.
• Significantly boost trader rewards and incentives.
• Introduce an innovative "Trade for Free" feature, setting a new industry standard.
• Lay the groundwork for the smooth transition to Level 2.0.

VOTING OPTIONS:

• For: Agree with this proposal
• Against: Do not agree with this proposal
• Abstain: Do not have strong opinion about this proposal

ELIGIBILITY

• Only LGO token holders are eligible to vote on this proposal. We invite the community to actively participate in this proposal, as your input will directly influence the evolution of the LEVEL platform. This is a pivotal step towards our next-generation trading experience — Level 2.0.