Don’t let looks fool you, Leverage Inu couldn’t be further from your usual memecoin game.
Bored with the same tired formats being rolled out over and over again, the experienced Levi team have combined deep knowledge and passion for all things Decentralized Finance (DeFi) along with trading to present something entirely new. They call it MemeFi.
The concept of LEVI is simple. A 1% trading fee from all transactions is allocated 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 the perfect environment for LEVI to get to work. A portion of Treasury earnings is used for trading, mainly on GMX. The team also hedges against trade losses by minting and staking GLP, which provides consistent income from GMX platform fees.
In just under three weeks, Levi’s Treasury has invested $20,000 in GLP, generating a return of 52% APR paid in ETH at the time of writing. With decentralized trading as the hottest narrative in crypto – and GMX in pole position – 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 open trades. As the project evolves, the website will be further refined by the team of web developers.
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.
Liquidity on Uniswap v3 could not be locked without sacrificing the fees that enable the utility. This was soon rectified and liquidity is suspended until December 3rd. This will be locked immediately as novel new features are added that allow holders to interact directly with the Treasury.
Snapshot voting is currently taking place and LEVI holders will determine the terms of 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. They simply need to keep the tokens in their wallet to receive regular airdrops of Treasury-generated profits, after deducting 20% gross profit for team commission.
With trading volume already in excess of $3 million, the Treasury has begun to build sound ground with consistent earnings. However, since Treasury started from $0, expect early returns to be low and higher returns to be repaid on a cumulative basis.
The LEVI community recognizes this and voted 98.5% in LEVI’s first DAO proposal to shift the distribution of the initial return to scale up returns.
In the current market conditions of long sideways trades, it can be difficult to generate generous returns from leveraged trading. LEVI traders will seek to use a low percentage of treasury funds per trade with low leverage (although sometimes indulging in their inherent inherent nature). Another ongoing experiment is exploring ways for the community to control trading.
In addition, the team is using its DeFi skills to test additional strategies that will strengthen Treasury. More will follow from the team as such strategies are more fully battle tested.
And finally, what’s a meme without a community? Leverage Inu already has a loyal base that is growing by the day. There are regular giveaways and quizzes to encourage as much participation as possible. The team has also started adding games to their website and more are being added.
Best of all, the LEVI community is smart, and with their Telegram, they are quickly becoming a hive-mind for DeFi enthusiasts and traders to discuss their ideas, experiences, and alpha. The community doesn’t do raids or shame sellers – there’s so much more to talk about than 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 keep investing in the same tired, high-tax format churned out by lazy “developers” where communities are pressured to get the job done.
If you like what you read, the Leverage Inu team cordially invites you to leave your prejudices at the door 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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