1/ The Faction Wars approach their final battle ⚔️, there is still time to join, prepare for a trading war on beta.levana.exchange 💱 🐲
The Levana #LVN Token launch is quickly approaching ⏱️
👇Everything you need to know about how to earn LVN blog.levana.finance/the-great-leva…
The Levana #LVN Token launch is quickly approaching ⏱️
👇Everything you need to know about how to earn LVN blog.levana.finance/the-great-leva…
2/ Levana is a collection of DeFi & GameFi dApps designed to bring a massive new audience to the Terra ecosystem. The name Levana is an acronym for Leverage Any Asset. Levana’s flagship protocol is a Perpetual platform that enables creation of leverage exposure for any asset 
4/ Levana’s GameFi products levana.games have been in the market for over 6 months, attracting more than 10,000 participants to 8 different Play2Earn Terra based blockchain games, including the first multiplayer Terra gaming experience.
5/ At launch, 70 million LVN (out of a total of 1 billion) will be circulating. Over the course of 214 (14 days for the lockdrop/LBA and 200 days for emissions) days they will be distributed as follows: (subject to change)
6/ After launch, LVN will be distributed to Levana value-driving users as follows: (subject to change)
7/ Visual overview of Levana token launch phases:
8/ Your NFTs must be locked in your Levana dragon cave dragons.levana.finance.
A snapshot for airdrops based on NFT ownership will be taken around June 1st. NFTs staked after the snapshot, will remain able to participate in Levana GameFi, but may not for the LVN airdrop
A snapshot for airdrops based on NFT ownership will be taken around June 1st. NFTs staked after the snapshot, will remain able to participate in Levana GameFi, but may not for the LVN airdrop
9/ The Levana Airdrop — Phase 0
Claimed airdropped tokens will unlock over a 100 day period.
Note, after day 200, all remaining unclaimed airdrops return to the Levana Foundation treasury.
Claimed airdropped tokens will unlock over a 100 day period.
Note, after day 200, all remaining unclaimed airdrops return to the Levana Foundation treasury.
10/ Staking NFTs locks them in the contract for 6 months. Note: Levana NFTs staked can still be used to play in all Levana GameFi, including Nesting, Genetic Modification, Dragon Hatching and Faction Wars.
11/ Instead of simply airdropping to #LUNA stakers, (which @flipsidecrypto has shown are over 90% dumped) We worked with Flipside to create a #LUNAtics score for a smarter airdrop
12/ Before the launch of the full protocol and Perpetual Risk Fund (planned for June), airdrop recipients have the option to participate in Levana’s LVN/UST LBA (Liquidity Bootstrapping Auction). Participants in the LBA receive additional Levana tokens
13/ Participation in the LVN/UST LBA initiates the start of the 100 day unlock period for LVN tokens received in Phase 0. All LVN tokens claimed via Airdrops that are not transferred to the LBA start to unlock on days 101–200, following completion of Phase 1 and 2.
14/ After the Airdrop in June, there is a week long Lockdrop, followed by a week long LBA. Note: Final dates for these events can and will likely shift based on many factors.
15/ Phase 1: The Lockdrop
Levana will launch with a Lockdrop mechanism similar to the one pioneered by other successful Terra projects, Astroport and Mars.
Given the high volatility during the initial launch of LP positions of Astroport and Mars, Levana has added features:
Levana will launch with a Lockdrop mechanism similar to the one pioneered by other successful Terra projects, Astroport and Mars.
Given the high volatility during the initial launch of LP positions of Astroport and Mars, Levana has added features:
16/ LVN Tokens claimed in Phase 0 will linearly unlock over a period of 100 days
LVN Tokens allocated to the LBA will receive LBA rewards (in total 15M LVN tokens)
LVN Tokens not allocated to the LBA will unlock on days 101–200 after the Astroport Pool launch
LVN Tokens allocated to the LBA will receive LBA rewards (in total 15M LVN tokens)
LVN Tokens not allocated to the LBA will unlock on days 101–200 after the Astroport Pool launch
17/ The Lockdrop
Users are able to lock UST in Levana’s Perpetual Swap Risk Fund in exchange for a distribution of Levana LVN tokens. These LVN tokens unlock over a 100 day period once the Astroport LVN<>UST launches.
calculator.levana.finance (via @flipsidecrypto)
Users are able to lock UST in Levana’s Perpetual Swap Risk Fund in exchange for a distribution of Levana LVN tokens. These LVN tokens unlock over a 100 day period once the Astroport LVN<>UST launches.
calculator.levana.finance (via @flipsidecrypto)
18/ Why lock tokens into the Risk Fund via the Lockdrop?
Locked UST deposits help Levana bootstrap liquidity for one of its most important mechanics, the Levana Perpetual Risk Fund.
With more UST locked into the Risk Fund, larger positions can be safely opened on Perpetual Swaps
Locked UST deposits help Levana bootstrap liquidity for one of its most important mechanics, the Levana Perpetual Risk Fund.
With more UST locked into the Risk Fund, larger positions can be safely opened on Perpetual Swaps
19/ Enabling collection of more fees. The Lockdrop solves the classic “chicken and egg problem” of launching DeFi protocols, enabling a wider range of participants to open positions within the platform, which helps ensure the long term success of Levana.
20/ The Perpetual Swap Risk Fund, as per its name, does not come without risk. For this reason significant rewards are allocated to early contributors who choose to align themselves with the long term success of the platform. Rewards come both from the 35M LVN Lockdrop allocation
21/ Phase 1 lasts seven days. Users can participate in the Lockdrop at any time during the first five days of the seven-day period, by choosing to locking UST in the Risk Fund. Starting on day six, no new deposits are accepted and only limited withdrawals are allowed on days 6–7.
22/ This unique model limits manipulation by large wallets who typically deposit large amounts of UST at the start of a Lockdrop in order to discourage deposits by others, only to later withdraw the majority of their UST right before the deposit deadline is reached.
23/ During the first five days of Phase 1, participants are able to freely withdraw any or all of the UST deposited.
Starting from day six, participants are only able to withdraw 50% or less of the UST they deposited during the initial five-day period.
Starting from day six, participants are only able to withdraw 50% or less of the UST they deposited during the initial five-day period.
24/ During the course of day 7, each participant’s withdrawal allowance falls linearly from 50% to 0%. By the end of the day, no withdrawals are allowed and participation levels are fixed.
25/ Users participating in the Lockdrop must lock their UST into the Levana Perpetual Risk Fund for a period of not less than 3 months. The longer a user locks their UST (in three-month increments, up to 18 months), the more LVN tokens they receive.
26/ When Levana’s Perpetual Swap Risk Fund launches, Lockdrop participants will earn emissions (in the form of LVN token rewards) from the Levana Protocol similar to other Levana Risk Fund participants, based on the applicable rates determined by the Protocol.
27/ Risks associated with the Risk Fund
TLDR:
TLDR:
28/ Phase 2: The LVN/UST Liquidity Bootstrapping Auction (LBA)
Phase 2 is scheduled to run from June 14th-June 21st, 2022. The dates may change as we approach the event. During these seven days, users can commit UST and/or LVN to the LBA (Liquidity Bootstrapping Auction)
Phase 2 is scheduled to run from June 14th-June 21st, 2022. The dates may change as we approach the event. During these seven days, users can commit UST and/or LVN to the LBA (Liquidity Bootstrapping Auction)
29/ and participate in a user auction of user-obtained LVN from the Airdrop or Phase 1. At the end of the LBA, all committed tokens (UST and LVN) will be used to initialize an LVN-UST liquidity pool on Astroport.
30/ In this sense, the LBA acts as a price discovery mechanism for LVN tokens — meaning they will act as value discovery for Levana governance
31/ How the LBA Works:
For UST participants
Able to freely deposit and withdraw for the first five days ( 2 additional days given to UST depositors allows fair price discovery as depositors know the exact amount of LVN they are bidding for)
For UST participants
Able to freely deposit and withdraw for the first five days ( 2 additional days given to UST depositors allows fair price discovery as depositors know the exact amount of LVN they are bidding for)
32/ On the 6th day, only be able to withdraw 50% or less of their committed UST
During the 7th day, the amount of UST they are able to withdraw decreases linearly to 0.
During the 7th day, the amount of UST they are able to withdraw decreases linearly to 0.
33/ For LVN participants
Able to commit LVN tokens during the first 3 days.
Note: The only LVN tokens available for Phase 2 are those granted to Lockdrop and Airdrop recipients
Able to commit LVN tokens during the first 3 days.
Note: The only LVN tokens available for Phase 2 are those granted to Lockdrop and Airdrop recipients
34/ (during Phase 2 these two groups aren’t able to claim or transfer their LVN, only commit them to the pool; alternatively they can wait for the end of Phase 2 to claim their tokens).
Deposits of LVN to the pool is irreversible; once committed, there’s no withdrawal option.
Deposits of LVN to the pool is irreversible; once committed, there’s no withdrawal option.
35/ Users are able to participate with both LVN and UST tokens.
At the end of Phase 2, all assets committed to the bootstrapping auction will be used to initialize the LVN-UST pool on Astroport.
At the end of Phase 2, all assets committed to the bootstrapping auction will be used to initialize the LVN-UST pool on Astroport.
36/ One result of this method is that at the end of the LBA, participants have a claim on Levana-UST LP shares, rather than a single asset (for example, a contributor who deposits UST has a claim on LVN-UST LP shares at the end of the LBA).
37/ These LP shares are initially locked and vest linearly for a period of 100 days. In exchange for participating in the LBA, users receive a share of 15,000,000 LVN tokens unlocking linearly over 100 days starting from the launch of the LVN-UST pool on Astroport
38/ Note: Participation in Phase 2 involves significant technical risks and uncertainties. Please carefully review the “Disclaimers” section at the end of this article for important information about the nature of such risks,
39/ the practical irreversibility of the relevant blockchain transactions and the absence of reliable or readily available remedies for any loss or impairment of tokens or other damages you might suffer by participating in Phase 2.
40/ Mystery NFT
Reading this far entitles you to some type of awesome reward -right? Don’t tell anyone, but participating in the LBA via contribution of both LVN and UST into the LBA makes contributors eligible to receive an exclusive mystery NFT.
Reading this far entitles you to some type of awesome reward -right? Don’t tell anyone, but participating in the LBA via contribution of both LVN and UST into the LBA makes contributors eligible to receive an exclusive mystery NFT.
41/ Our NFTs are always designed with both surprise and delight in mind.
42/ LVN-UST Ongoing LP Rewards
10,000,000 Levana tokens will be distributed during the first year after the protocol’s launch to liquidity providers of the LVN-UST pool on Astroport. These tokens will be distributed evenly (block by block) throughout the year.
10,000,000 Levana tokens will be distributed during the first year after the protocol’s launch to liquidity providers of the LVN-UST pool on Astroport. These tokens will be distributed evenly (block by block) throughout the year.
43/ We believe Levana Protocol is a transformational foundation for a new constellation of not only decentralized financial products, but of gamification, governance, and collaboration.
44/ We aim to inspire massive adoption of the Terra ecosystem through the building of something radically new. We hope you join us on the journey. medium.com/levana-protoco…
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