Stablecoin protocol Level acquired by top DeFi institution, protocol to be gradually shut down

BlockBeats News, September 26th, the stablecoin protocol Level announced that the team is about to be acquired by a leading DeFi protocol. Since its launch nearly a year ago, the market capitalization of lvlUSD has reached as high as $185 million, and slvlUSD has brought users an average annualized yield of over 7%.

As part of this transition, the Level protocol, including lvlUSD and slvlUSD, will be gradually closed. All users can undelegate slvlUSD and redeem lvlUSD, and all cooldown periods will be shortened to 2 seconds.