Don’t let appearances fool you, Leverage Inu couldn’t be further from your usual memecoin game.
Bored with the same hackneyed formats being rolled out over and over again, the seasoned Levi team has combined deep knowledge and passion for all things decentralized finance (DeFi) and trading to present something entirely new. They call it MemeFi.
The concept of LEVI is simple. A trading fee of 1% of all transactions is provided by the Treasury for yield farming and leverage trading to generate real returns in Ether (ETH) for holders.
Arbitrum’s impressive and growing ecosystem provides LEVI with the perfect environment to get to work. A portion of Treasury revenue is used for trading, mainly on GMX. The team also hedges against any trade losses by minting and staking GLP, which generates constant revenue from GMX platform fees.
In just under three weeks, Levi’s Treasury has invested $20,000 in GLP, which at the time of writing is generating a return of 52% APR, paid out in ETH. With decentralized trading being the hottest narrative in crypto – and GMX at the forefront – this position will continue to grow to create a yield floor for holders.
Tracking data is integrated into levi.finance, which provides visitors with live information on yield positions and any open trades. As the project evolves, the website will be further refined by the team web developer.
Tokenomics and Yield
LEVI’s launch was fair on October 28th on Arbitrum One, with liquidity paired with ETH on Uniswap v3.
There is an inflation-free supply of 1 million tokens, 95% of which have been launched, with 5% reserved for community giveaways (and 40% of that allocation has already been burned).
Unlike other memes, there are no taxes and the Treasury is only funded by a 1% Uniswap trading fee.
Uniswap v3 liquidity could not be locked without sacrificing the fees that enable the utility. This was soon resolved and liquidity is frozen until December 3rd. This will be locked immediately as new new features are added that allow holders to interact directly with the Treasury.
A short-term vote is currently taking place and LEVI holders will set the terms for the next lockdown period. Oh, didn’t you know? This meme is also a Decentralized Autonomous Organization (DAO).
Owners do not have to use their LEVI. All they have to do is keep the tokens in their wallet to receive regular airdrops of profits generated by Treasury, after deducting 20% of gross profit for team commission.
With trading volume already in excess of $3 million, the Treasury has been able to begin building a healthy floor for constant returns. However, since the Treasury started from $0, expect initial returns to be low and higher returns on a cumulative basis.
The LEVI community recognizes this and voted 98.5% in LEVI’s first DAO proposal to delay the distribution of the initial return in order to increase earnings.
In the current market conditions with long sideways trades, it can be challenging to generate generous returns through leveraged trading. LEVI traders will seek to use a small percentage of Treasury funds per trade while maintaining low leverage (although sometimes indulging in their degenerate inner nature). Another ongoing experiment is exploring ways for the community to drive business.
In addition, the team is using its DeFi skills to test additional strategies that will strengthen Treasury. More contributions from the team will follow as these strategies are more fully tested in combat.
After all, what’s a meme without a community? Leverage Inu already has a loyal base that is growing every day. In order to encourage as many participants as possible to take part, there are regular competitions and quizzes. The team has also started adding games to their site, and more are coming.
Best of all, the LEVI community is smart and, with their Telegram, is quickly becoming a meeting place for DeFi enthusiasts and traders to discuss their ideas, experiences, and alpha. The community doesn’t raid or shame sellers – there’s so much more to talk about than just imaginative price speculation, and may it stay that way.
Leverage Inu is an innovative project without precedent. The team wants people to wonder why they continue to invest in the same hackneyed high-tax format created by lazy “developers” and peer pressure communities to do the work.
If you like what you read, the Leverage Inu team cordially invites you to put your prejudices behind and take a look.
Twitter: twitter.com/leverageinu
TG Portal: https://t.me/Leverageportal
Medium: medium.com/@leverageinu
Discord: https://discord.gg/VsRkTagG
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