LeverFi

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Discover LeverFi's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is LeverFi?

LeverFi (LEVER) is a decentralized finance (DeFi) platform built on the Ethereum blockchain. It offers leveraged trading with up to 10x leverage and simultaneous yield-farming of assets. Users can deposit collateral, which is then deployed to generate yield on other DeFi protocols. The platform aims to provide stability in volatile markets by decreasing the risk associated with leveraged trades.

How is LeverFi used?

LeverFi (LEVER) is a decentralized finance (DeFi) platform that offers leveraged trading, lending, and yield-bearing opportunities. Here are the key ways LEVER is used:

  1. Governance: LEVER holders can lock up their tokens for a period between six months and two years to earn xLEVER, which grants voting power in protocol governance. The longer the lock-up period, the more xLEVER is generated, and thus, the more voting power the user has.

  2. Staking: Users can stake xLEVER tokens to earn a share of protocol rewards. This incentivizes users to participate in governance and maintain the platform's stability.

  3. Trading Fees Discount: Traders holding xLEVER in their wallets receive trading fees discounts of between 20-60% on trades executed through the LeverTrade platform.

  1. Protocol Management: LEVER holders participate in governance decisions such as adding or removing collateral, tradable assets, and lending pools. They also oversee new network deployments and tokenomics structures.

  2. LeverPro Launchpad: Users can lock up LEVER to earn LEVERPRO•POINTS, which guarantees priority allocation on the LeverPro Launchpad for new project listings.

  3. OmniZK: LEVER is staked to become an OmniRelayer, contributing to the security and governance of the network. Users can delegate their LEVER to OmniRelayers who align with their governance ethos.

Overall, LEVER plays a central role in empowering the various products and services within the LeverFi ecosystem, ensuring user participation and incentivizing governance and staking activities.

How do I store LeverFi?

To store LeverFi (LEVER) tokens, you can use various wallet options that provide secure and user-friendly management of your cryptocurrencies. Here are some popular options:

  1. Binance: You can store your LEVER tokens directly in your Binance account. This allows you to easily trade or stake your tokens within the platform.

  2. Atomic Wallet: Atomic Wallet supports over 1,000 coins and tokens, including LeverFi. It offers a trusted and user-friendly platform for managing your LEVER tokens.

  3. Guarda Wallet: Guarda is a non-custodial wallet that supports more than 400,000 assets, including LeverFi. It provides a secure and user-friendly platform for buying, selling, sending, and receiving LEVER tokens. You can download the app from the AppStore or Google Play, or install a desktop wallet.

  1. Other Wallets: You can also use other wallets that support LeverFi, such as Trust Wallet, which supports millions of assets and blockchains.

When choosing a wallet, ensure it is reputable, secure, and easy to use. Always follow best practices for securing your wallet, such as setting strong passwords and keeping your backup files safe.

How to buy LeverFi?

To buy LeverFi (LEVER) tokens, you can follow these steps:

Buying LeverFi on Centralized Exchanges (CEX)
  1. Create an Account: Register on a centralized exchange like Binance, Kriptomat, or Pionex. You can sign up using your email, Google, or Apple account.
  2. Verify Your Account: Complete the Know-Your-Customer (KYC) verification process by submitting your identification documents and phone number.
  3. Add Funds: Deposit fiat currency using a credit card, debit card, or bank transfer. You can also use third-party payment channels.
  4. Buy LeverFi: Navigate to the "Buy Crypto" or "Buy LeverFi" section, select LEVER as the cryptocurrency, and choose your payment method. Enter the amount you want to buy and confirm the transaction.
Buying LeverFi on Decentralized Exchanges (DEX)
  1. Get a Crypto Wallet: Download and set up a Web3 wallet like Metamask or a mobile wallet like Trust Wallet.
  2. Transfer Funds: Transfer the mainnet cryptocurrency (e.g., ETH or BNB) to your wallet address.
  3. Connect to DEX: Connect your wallet to the decentralized exchange (DEX).
  4. Swap for LeverFi: Find the "Swap" option, select the token you want to trade from, and choose LeverFi (LEVER) as the "To" currency. Enter the amount and confirm the transaction.
Additional Tips
  • Ensure you understand the associated risks and fees before investing in LeverFi.
  • Be cautious of scams and fake tokens on DEX platforms.
  • You can also use trading bots on platforms like Pionex to manage your LeverFi investments.
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History of LeverFi

LeverFi, formerly known as RAMP DEFI, is a decentralized leverage trading platform that underwent a rebranding in March 2022. The rebranding aimed to address issues in the DeFi market such as a lack of sustainable Total Value Locked (TVL) and utility. The team behind LeverFi sought to create a product that provides value by allowing users to trade and yield farm simultaneously. Lenders deposit funds into lending pools and earn interest from traders who borrow to leverage trade up to 10 times. Any unused liquidity from lenders is deposited into other DeFi protocols to generate more yield.

LeverFi aims to serve as a bridge for Ethereum and EVM-compatible chains like BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism. The platform offers various features such as OmniZK, a modular ZK-protocol that shifts complex computations to EVM with final native settlements on Bitcoin, and LeverPro, which allows users to participate in newly minted token launches in the rapidly growing Bitcoin DeFi ecosystem.

Historical data for LeverFi's price and market capitalization is available, showing its performance over time. For instance, the current price of LEVER is $0.003788 USD, with a 24-hour trading volume of $79205593.93 USD and a market capitalization of $129,093,623. The token's price history can be accessed in various currencies and with different levels of detail, including daily, weekly, and monthly frequencies.

LeverFi has been featured on several platforms, including Coinbase Wallet, where it can be traded, and CoinMarketCap, which provides real-time price updates and market statistics. The platform has also been audited by industry-leading security firms such as Peckshield and Beosin.

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How LeverFi works

LeverFi (LEVER) is a decentralized leverage trading platform built on the Ethereum network. It allows users to trade with leverage by borrowing from loan pools funded by lenders. Here's how it works:

Key Components
  1. Collateral Manager: Users deposit assets as collateral into loan pools. This collateral is used to facilitate leverage trading.
  2. Lending Manager: Lenders provide liquidity to the platform by depositing assets into the loan pools. They earn interest on their collateral.
  3. Trading Manager: Users can borrow from the loan pools to trade with leverage. The platform ensures optimal pricing by routing transactions through various decentralized exchanges (DEXs).
  4. Risk Manager: This component manages risk by implementing a liquidation framework that protects lender assets.
Leverage Trading
  • Users can trade with leverage by borrowing from the loan pools.
  • The platform ensures minimal slippage by routing transactions through multiple DEXs.
  • Advanced trading strategies like pair trades, carry trades, and market-neutral trades are supported.
Yield Farming
  • Users can earn yield on their collateral by depositing it into other DeFi protocols.
  • The platform integrates yield farming, allowing users to generate returns on their collateral.
Governance
  • The LEVER token is used for governance, allowing users to participate in decision-making processes.
  • Users can earn LEVER tokens by staking their assets in liquidity pools.
Benefits
  • LeverFi provides a bridge between different blockchain networks, offering users access to various sources of liquidity.
  • The platform aims to address issues like inefficient asset utilization, unstable liquidity, and poor user experience.
  • It offers competitive and sustainable real yields for lenders and traders.
Future Potential
  • LeverFi can play a significant role in facilitating leverage trading and yield farming across different blockchain networks.
  • The platform can be used as a bridge between various sources of liquidity, providing users with a wide range of trading opportunities.

Overall, LeverFi aims to provide a holistic platform for users by integrating leverage trading and yield farming, ensuring transparency, self-custody, and competitive yields.

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LeverFi's strengths

LeverFi (LEVER) has several strengths that set it apart from other decentralized finance (DeFi) platforms:

  1. Integrated Leverage Trading and Yield Farming: LeverFi allows users to trade with leverage while also participating in yield farming, providing a unique combination of trading opportunities and passive income generation.

  2. Multi-Chain Support: The platform supports various blockchain networks, including Ethereum, Binance Smart Chain, Avalanche, Polygon, and Optimism, enabling users to access liquidity across multiple platforms.

  3. Governance Mechanism: The LEVER token allows users to participate in the governance process, making decisions on important aspects such as collateral, tradable assets, and lending pools. This ensures that users have a say in the platform's development and direction.

  1. Smart Contract Security: LeverFi utilizes Ethereum smart contracts to ensure transparent, secure, and reliable transactions, providing a trustworthy environment for both traders and lenders.

  2. Diverse Collateral Options: Users can deposit a wide range of assets as collateral, including major cryptocurrencies like Bitcoin and Ethereum, as well as liquidity provider tokens from protocols like Curve and Uniswap.

  3. Stable Prices and Risk Management: LeverFi integrates Chainlink oracles to ensure stable prices and minimizes risks by routing transactions through various decentralized exchanges.

  1. Utility Token: The LEVER token has multiple utility roles, including staking, governance, and participation in the LeverPro launchpad, providing users with various ways to engage with the platform and earn rewards.

These strengths position LeverFi as a comprehensive and innovative DeFi platform that addresses various needs of traders and lenders.

LeverFi's risks

LeverFi (LEVER) has several risks associated with it. According to InvestorsObserver, LEVER has a relatively low risk score, indicating it is a relatively low-risk investment. However, the platform itself warns about various risks, including:

  • Market Risks: Prices of tokens purchased may trade below the original purchase price due to poor market conditions, affecting the market value of collateral.
  • Systematic Risks: Asset deposits are subject to price fluctuations and market changes, which can impact the market value of collateral.
  • Liquidation Risks: The Risk Manager smart contracts manage Loan-To-Value (LTV) collateral risk parameters and Liquidation Threshold risk parameters to mitigate the risk of liquidation.
  • Directional Risks: Although lenders on LeverFi are not exposed to directional risks, traders may still face risks associated with market movements.

These risks highlight the importance of careful risk assessment and management when using LeverFi's services.

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Did LeverFi raise funds?

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LeverFi’s team

  • Lawrence Lim: Co-founder of LeverFi, formerly known as RAMP DEFI. He has a background in the traditional financial sector, having worked in private banking and mergers and acquisitions before transitioning to the crypto industry.
  • Loh Zheng Rong: Co-founder of LeverFi, formerly known as RAMP DEFI. He has a background in financial management and has previously worked on blockchain infrastructure projects.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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