What is LeverFi (LEVER)?
The LEVER token is the governance token of a decentralized exchange known as LeverFi. The aim of the platform is to provide users with a space where they can both – trade and yield farm. In addition to that, LeverFi also aims to connect Ethereum with EVM-compatible networks. Thus, it acts as a bridge between Ethereum and these networks.
In order to trade with larger positions, LeverFi enables customers to deposit collateral as a single asset and then combine their collateral. Besides, along with enabling users to use the platform in combination with DEX and CEX derivatives, the platform also facilitates customers who engage in leveraged pair trading or hedging.
Note that, initially, LeverFi was known as RAMP DEFI. However, in March 2022, the platform decided to rebrand.
Use Cases of LEVER
As mentioned before, LEVER is the governance token. This means that LEVER token holders get the right to participate in the decision-making processes of the LeverFi crypto project. To engage in governance, participants must lock up their LEVER token for a period ranging from 6 to 48 months. By doing that they get xLEVER tokens. Each xLEVER token symbolizes one vote in the governance process.
Greater lockup times provide more xLEVER for the same quantity of LEVER coins. This means that token owners with smaller shares and longer lockups might have the same amount of voting power as token owners with larger shares and shorter lockups. Besides, note that xLEVER tokens can be staked to receive rewards in LEVER coins.
Planning to acquire LeverFi coins? Before doing that, make sure to analyze the latest LEVER price movements. You can do that using the live LeverFi price chart above.
Who Founded LeverFi?
The LeverFi crypto project (then RAMP DEFI) was founded in 2019 by Lawrence Lim and Loh Zheng Rong.
Lawrence Lim initially was a part of the traditional finance world. To be more specific, he used to work with private banking, corporate mergers, and acquisitions. However, he later switched to the crypto world by becoming a part of the IOST network development.
Apart from being the co-founder of LeverFi, Loh Zheng Rong is also the marketing lead. He has a degree in Finance and Wealth Management. In the past, he worked as the managing partner of Merkle Venture and co-founded the NOX crypto project.
Tokenomics of LEVER
The max supply of LEVER tokens is 35 billion. The fixed supply helps to keep tokens more scarce, which might reflect positively on the LEVER price.