Level Money, an Ethereum-based stablecoin protocol, reached an all-time high in total value locked (TVL) of $6.5 million on Wednesday, after surging 262% in the last month, according to data from DefiLlama.
This platform operates as a Collateralized Debt Position (CDP) product. This allows users to deposit stablecoins such as USDC and USDT to mint lvlUSD, a native stablecoin that reflects the value of the US dollar while also generating yield.
Level Money positions itself as the first stablecoin to leverage the re-staked USD stablecoin. lvlUSD holders earn interest while their stablecoin deposits are re-staken to secure blockchain services. Level does all the behind-the-scenes work for restaking, including:
Node Management – The protocol works with vetted node operators to run a decentralized network. Network curation – Curate the network that your re-staked dollar tokens will protect. Smart Contract Interface – Create smart contracts to simplify interaction with restaking protocols such as Eigenlayer, Symbiotic, and Karak.
Until October 5th, USDT accounted for the majority of level deposits, but recent increases in the protocol’s TVL were driven by USD0++ and sdeUSD, whose liquidity value went from zero to $2.7 million each in less than a week. and jumped to $1.5 million.
USD0++, the dollar stablecoin from Usual Money, a real-world asset (RWA) protocol, has risen more than 30% over the past month to $290 million in TVL.
sdeUSD is the staking version of deUSD, a stablecoin provided by Elixir that provides liquidity infrastructure for decentralized trading.
On Wednesday, Rebel Money recorded record daily inflows of over $900,000, even as USDC outflows exceeded $200,000.
Although not available to US residents, Level Money is a decentralized protocol backed by leading blockchain venture capital firms such as Polychain Capital, Dragonfly, and Robot Ventures.
We have over 5,000 depositors and over 8,000 whitelisted stablecoin holders.
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