The stablecoin protocol Level has been acquired by a leading DeFi organization, and the protocol will gradually cease operations.

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On September 26, the stablecoin protocol Level announced that its team will soon be acquired by a leading DeFi protocol. Since its launch nearly a year ago, lvlUSD has reached a market capitalization of up to 185 million USD, while slvlUSD has provided users with an average Annual Percentage Rate (APY) of over 7%. As part of this transition, the Level protocol, including lvlUSD and slvlUSD, will gradually be shut down. All users will be able to unstake slvlUSD and redeem lvlUSD, with all cooling periods reduced to 2 seconds.

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