New rounds of strategic investment

Given recent turbulence surrounding two of the largest centralized exchange operators, the market’s been tumultuous, and we’ve seen risk taken off the table across the board. While trading volume is down throughout the entire industry, we still believe that the future of crypto is a migration towards non-custodial liquidity markets. Despite the protocols strong performance, with fees generated exceeding TVL, and the DAO being the protocol’s largest Liquidity Provider – LVL’s circulating market cap remains largely unchanged at around $27.6m and a FDV of roughly 4x fees annualized.

We’ve been approached by a number of institutional investors looking to get exposure to the project. Rather than selling any portions of the team’s allocation, we feel that the best way to onboard strategics to the project is via the DAO. As such, we seek the DAO’s approval for a new series of strategic investors. First will be a 9-figure asset management company looking to acquire a $20m stake in the project. The investment will occur in tranches and subject to the growth of the protocol along with the platforms underlying liquidity. Each tranche will come with a one year lockup/vesting period. All deals will be done at spot TWAP and as always, the entirety of the proceeds will be added directly to the DAO treasury. Our goal is to further improve Level during the bear market such that many if not most of the features found on centralized platforms will also be made available to users on Level. It’s going to be an iterative process and the team’s commitment to building the most effective decentralized trading protocol has never been stronger.

VOTING OPTIONS

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

RULES

• Only LGO token holders are eligible to vote
• This proposal requires at least 10 LGO voted to pass
• This proposal will end at 22nd June, 2023 @ 9AM UTC instead of the snapshot information since there is a bug when setting dates in the platform.