Level Finance is the largest decentralized perpetual contract trading platform on the BNB chain. It utilizes a liquidity pool model where LPs act as the counterparty in trades, sharing in transaction fee profits. Trading prices are updated in real-time by oracles. A distinctive feature of the protocol is the introduction of "Tiered Tranches" for risk management. Each Tranche contains varying proportions of volatile assets, leading to differing incentives and revenue allocations. LPs can add liquidity to various Tranches based on their risk preferences.