Stable Coin protocol Level completed a $2.6 million financing round, led by Dragonfly Capital

ForesightNews · 2025-03-18T11:34:06+00:00

Peregrine Exploration completed a $2.6 million financing round, led by Dragonfly Capital, with participation from Polychain, new investors, etc., bringing Level's total financing to $6 million. Level's Stable Coin lvlUSD supports asset allocation into Decentralized Finance lending protocols, offering an Annual Percentage Rate (APR) of 8.3%, and has integrated multiple Decentralized Finance protocols for use as collateral assets on Morpho.

ForesightNews

2025-03-18 11:34:06

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According to Foresight News, CoinDesk reported that Stable Coinprotocol Level, backed by the development company Peregrine Exploration, has completed a $2.6 million financing round. The round was led by Dragonfly Capital, with participation from Polychain, and new investors Flowdesk, Echo syndicates, Native Crypto, Path’s Feisty Collective, as well as angel investors Sam Kazemian from Frax and Albert Chon from Injective. This financing round brings Level’s total funding to $6 million. Level’s Stable Coin lvlUSD aims to provide investors with returns, supporting assets into Aave and other Decentralized Finance lending protocols. Users can mint lvlUSD by depositing USDC or USDT Stable Coins. As of last week, the APR for the staked version of lvlUSD is 8.3%. lvlUSD has integrated with Decentralized Finance protocols such as Pendle, Spectra, and LayerZero, and can be used as collateral on Morpho.

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