Hi Flitpay Fam,
One of your most requested tokens, LeverFi (LEVER), is now listed on Flitpay. You can buy, trade, and invest in the LEVER/INR pair in India and join it in your crypto journey.
This coin is listed under Flitpay’s Instant Listing Programme. To know what this program means to you, visit Learn.
What is LeverFi (LEVER)?
LeverFi is a smart contract-powered permissionless on-chain leveraged trading platform, of which LEVER is the governance token. It allows users to trade with a 10x leverage for depositing yield-bearing tokens (BTC, ETH, BNB, Uni LP, Curve LP, etc.) in the LeverFi liquidity pool. Once the traders deposit the collateral tokens, they can trade with up to 10x of their collateral to make a passive profit. LeverFi sends the unused portion of its deposited collateral tokens to third-party farming pools for generating an extra yield for traders. This way, the traders earn while performing leverage trade on LeverFi. However, the traders pay a borrowing fee to the lending pool that goes to the lenders who lent them the assets for leverage trade. If a trader books a net loss portfolio, the protocol locks the withdrawal of his deposited collateral until the trader repays the leverage amount.
LEVER token, an Ethereum-based token, powers the governance of LeverFi. It has a total supply of 35 billion. Anyone who wants to participate in the governance of LeverFi needs to lock their LEVER tokens for 6 to 48 months. Those who lock LEVER tokens get xLEVER tokens in return. Each xLEVER token denotes one vote in the governance of LeverFi. The Governance of LeverFi includes decisions regarding the addition or the removal of collateral, trading assets, and lending pools. Furthermore, it also includes changes in the risk management parameters and distribution of protocol fees to xLEVER holders.
Notably, the users who opt for a longer lockup period for their xLEVER tokens get more xLEVER for the same number of LEVER tokens. They also get staking rewards in ETH and LEVER tokens for locking their xLEVER for a long time.
LiverFi is the rebranded version of the RAMP DeFi project. The rebranding was done to adjust to the uncertainties associated with the DeFi market. The token swap between LeverFi and RAMP took place in 2022.
Token Statistics
Launched Year: July 2022
LiverFi (LEVER) Price in INR: ₹0.13
Circulating Supply: 15,437,727,335 LEVER
Total Supply: 35,000,000,000 LEVER
Market Rank: 556
*Above data is from Coinmarketcap as of 8th May 2023*
More coin listings are coming soon.
Till then, Happy Trading!
