LeverFi to Hold User Referral Program

LeverFi has announced the launch of a user referral program in collaboration with Bybit. The program, which is set to run from October 6 to November 10, offers participants the opportunity to win a share of a $5,000 prize pool.

Refer to the official tweet by LEVER:

LEVER Info

LeverFi is an on-chain, permissionless leverage trading platform in the Decentralized Finance (DeFi) space. It emphasizes asset efficiency, which focuses on maximizing trader returns while minimizing risks and costs. Being a decentralized exchange (DEX), it prioritizes user transparency and the ability for users to retain custody of their assets. LeverFi is designed to aid traders in managing yield-bearing assets within a unified collateral basket and offers lenders competitive and sustainable real yields.

LeverFi comprises four central components, which are the Collateral Manager, Trading Manager, Lending Manager, and Risk Manager. Each component is driven by smart contracts that facilitate specific functionalities of the platform. For traders, LeverFi purchases underlying assets from DEXe’s liquid secondary market and employs transaction routing through multiple trading venues to minimize price slippage. Lenders, on the other hand, can lend their assets to traders, earning a yield without taking on directional risks. This decentralized architecture facilitates permissionless and secure interactions between lenders and traders.

LEVER is an ERC-20 token developed on the Ethereum blockchain, primarily serving the LeverFi platform. Although it has no intrinsic value, it is fundamental to the system in two principal manners: acting as a governance token, enabling protocol management decisions, and when staked, allowing users to earn a share of the platform’s fees.