LevelX The Evolution of DeFi
LVLX off to a successful launch!
LevelX (LVLX) is launched and in passing above a $1 Million market cap represents another successful step in the partnership between Growth DeFi and EMP Money. In this Medium we’d like to briefly showcase how LevelX is performing so far and quickly bring you up to speed on some forthcoming developments.
Mass participation….and 0xdead continues to feed!
With almost 600 wallets holding LevelX, participation since launch has been phenomenal and we’re still only a week old. Many in the community have taken an early opportunity to ‘level up’ and secure their xGRO, EMP and LVLX rebase and reflection rewards in these early stages. We hope everyone is enjoying this innovative new levelling up approach to rebase tokens.
This ability to level up has meant we’ve seen a huge amount of token burning since launch. At the time of writing, circa. 37% of the circulating supply has already been burned — which has massively supressed the rate of LVLX token inflation through rebase. When people burn tokens they head into a burn address, which itself can level up and continue to grow. This burn address also receives the rebase rewards… and then burns them, continuing to grow even more, creating, and feeding on a continuous LVLX burning cycle!
We believe the tokenomics of LevelX really are pioneering and we’re so excited to see where this can take us next as the ecosystem develops out further. What will always remain our focus is driving excitement and the opportunity for excellent returns on behalf of our community.
If you haven’t picked up any LVLX yet we recommend using our own platform UI swap function to ensure you’re interacting with the genuine contract:
https://app.growthdefi.com/levelx/swap
Virtual Deposit Contract Launch on 16 Feb
With LevelX now successfully launched we can also now welcome in our LVLX Virtual Deposit Contract (VDC) Drip Pools!
From 11:00 EST/16:00 UTC our VDCs will be live, and you can access them here: https://app.growthdefi.com/vdc/lvlx
Information on how the VDCs work is presented on the VDC page. Please make sure you read the information thoroughly, so you understand how they work before you deposit any tokens.
Firstly, there are two VDCs — one called ‘Compound’ and one called ‘Volatile’. Each has a different fee and reward structure. You can deposit LVLX tokens and receive future returns from a daily drip pool, and other entry and exit fees proportionate to your stake. Drip rewards are issued once per day. You can withdraw your LVLX tokens at any time, however a withdrawal fee is payable.
You can also deposit xGRO and xPERPS tokens to secure a boosted position. Each is a separate boost pool and each receives 1% of all VDC deposits and withdrawals only. Please note that xGRO and xPERPS are burned once deposited — you cannot claim them back.
VDC rewards can either be claimed or compounded whenever you choose. Claiming rewards is subject to a 20% tax. Compounding rewards back into the VDC is subject to zero tax. Also, reward do not expire daily but will continue to stack.
New Referral Reward System
We want to really expand awareness of LevelX and what we have to offer, and make sure we reward people for helping us achieve that. So, we’ll soon be launching a new referral scheme that everyone is welcome to participate in. Individuals can secure a unique referral code that they can provide to others and then benefit from LVLX rewards based on their referral activity. Stay tuned for further information and more detailed announcements on this soon!
About Growth DeFi
ounded in 2020, Growth DeFi provides an advanced suite of products to investors, helping to increase capital efficiency. Our latest product is LevelX.
For more info on Growth DeFi, please see our main website. Otherwise stop by our Telegram channel to chat with our team.
Telegram: https://t.me/TheLevelX
LVLX User Guide : https://docs.google.com/document/u/2/d/e/2PACX-1vQqfL76XQLdMFXUC0Jdz3rxOgmGCf7CSTvb_p0vg2Iuny4ARfCEew96OQ7NMPXxIfOL4XppT9K-ArVB/pub
