Level USD
LVLUSD
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Level USD (LVLUSD) is an ERC-20 yield-bearing restaked stablecoin protocol that has been deprecated and sunsetted following the team's transition to Grove Finance. While the protocol executed an orderly wind-down with open redemptions (shortened 2-second cooldowns) and maintained its $1.00 peg without experiencing hacks, exploits, or depegs, the project is now in redeem-only mode. The circulating supply and market cap have contracted from an all-time high of $185M down to ~$404K, with virtually non-existent liquidity and daily volume under $1,000. Active Development received a data gap score (-1.0) because the project is in a state of deliberate decommissioning rather than active development. Furthermore, no third-party verified audits or independent proof-of-reserves attestations were confirmed in retrieved sources. Because the token is officially deprecated and sunset, investors should avoid holding or trading it.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Level USD (LVLUSD)
Level USD (LVLUSD) is a deprecated yield-bearing stablecoin on the Ethereum network that was sunset following the development team's transition to Grove Finance. Originally developed under Peregrine Exploration by founders David Lee and Kedian Sun—supported by $6 million in venture funding led by Dragonfly Capital and Polychain Capital—the protocol allowed users to mint lvlUSD permissionlessly against collateral such as USDC and USDT. The deposited collateral was allocated into lending and restaking protocols to generate yield, with a staked variant (slvlUSD) providing stacked returns.
The protocol underwent an orderly decommissioning and entered a redeem-only mode after its team moved to Grove Finance. As part of the wind-down, the final yield distribution was completed on October 2, 2025. To assist users in exiting, protocol parameters were modified to reduce the redemption cooldown to 2 seconds and raise the per-block redemption limit to 1 million lvlUSD. While the token maintained its $1.00 peg and reported no security exploits or depeg incidents during operation, its circulating market cap contracted from an all-time peak of $185 million to approximately $404,000.
Governance of the protocol was centralized by design, utilizing administrative contracts such as a Pauser Guard and Roles Authority without a decentralized autonomous organization (DAO) or community voting framework. Furthermore, retrieved evaluation data notes a lack of verifiable third-party smart contract audits and independent proof-of-reserves attestations for the LVLUSD contract, distinguishing it from the unrelated Level Finance (LVL) protocol on BNB Chain. With trading volume and liquidity largely diminished, the token remains strictly in wind-down status.