TI First Sight — Lever Network

“TokenInsight First Sight, finds the next popular project. “

• Its main advantage lies in the integration of mainstream AMMs from Ethereum, such as Uniswap, Sushiswap, etc., to ensure sufficient margin and improve trading experience;
• It is expected to be deployed on BSC in the future. At that time, AMM liquidity such as Pancake will also be included;
• Margin positions are managed in a decentralized lending pool. The margin deposited in the lending pool can earn interest income for users. After depositing, it supports 3X leverage position trading;
• In future versions, personalized products such as market orders, limit orders, take profit and stop loss will be designed;
• In addition to ETH, USDC, DAI and other assets, Lever allows users to use other deposit vouchers for loans, such as Aave’s aTokens and Compound’s cTokens;
• ERC20 assets such as SNX, UNI, and AAVE can be short in the Lever protocol.

Lever Network basic principle, source: Lever Light Paper

IEO Information

At 20:00 today, Lever Network will conduct IEO on Gate.io Startup. TokenInsight has extracted some key subscription information and organized it as follows:

• Opening time: Beijing time 20:00, May 5, 2021–2:00, May 6, 2021 (UTC+8) (Orders valid within 6 hours are treated equally)
• Start trading: Beijing time 12:00, May 8, 2021 (UTC+8)
• Subscription price: $0.5
• Total subscription amount: 50,000 LEV
• Subscription currency: USDT
• Participation condition: Users need to reach VIP1 and above to participate in the subscription. The VIP0 users cannot participate as their quota is 0. Please upgrade as soon as possible; the higher the VIP level, the higher the subscription quota.
• Purchase limit: The maximum subscription limit for a single user is 1000; the relationship between the VIP level and the maximum subscription limit for an order is: the maximum number of subscriptions (not the actual number of subscriptions) = the square of the VIP level multiplied by 10, for example: VIP2 users can subscribe a maximum of 2 * 2 * 10 = 40, and VIP3 users can subscribe a maximum of 3 * 3 * 10 = 90.
• Sufficient amount: Within 2 hours after the user places an order and ends the subscription, please ensure that there is a sufficient amount not less than the subscription amount in the spot trading account. Insufficient amount will automatically be excluded from the valid order.
• Result announcement: After the end of the subscription on the day, the system will count all eligible subscription orders, and distribute them according to the proportion of the individual subscription quantity of each payment currency to the total subscription quantity of this payment currency. At Beijing time 04:00, May 6, 2021 (UTC+8), the subscription result will be announced.
• More details: https://www.gateio.ch/cn/startup/97

In addition to the IEO at Gate.io, Lever Network will be auctioned at Gnosis Auction on May 5, 2021. The specific information is as follows:

Start time: 8:00 pm on May 5, 2021, Beijing time

End time: 8:00 pm on May 7, 2021, Beijing time (48 hours in total)

• Sale currency: $LEV (Initial circulation: 4,330,000 pieces)
• Sale quantity: 2,000,000 pieces
• Sale price: $1
• Purchase currency: USDT (ERC-20)
• Locked position: 100% released after auction
• KYC & Whitelist: No need for KYC and whitelist
• Specific auction details: https://levernetwork.medium.com/lev-gonosis-auction-on-may-5th-8bfcff14b885
• Tutorial for participating in the auction: https://levernetwork.medium.com/simple-version-of-how-to-participate-in-lev-gnosis-auction-on-may-5th-e8df8d9c2ce6

The specific auction principle is shown in the figure below: the horizontal axis represents the different bids of each token, and the vertical axis represents the number of tokens to be purchased. Each orange bid will be conformed at the lowest bid price it accepts.

Gnosis Auction specific principle, source: Lever’s Medium

Token Information

• Name: $LEV
• Type: ERC 20
• Total: 100,000,000 (100 million pieces)
• No contract address yet
• Function: Governance tokens, liquidity mining rewards;

Token distribution:

• Seed round 6%: Unlock 5% at TGE, and then release 10% every quarter
• PE round 3%: Unlock 10% at TGE, and then release 15% every quarter
• IEO 1%: Unlock 100% at TGE
• Auction 2%: Unlock 100% at TGE
• Team 15%: 15% will be unlocked after 6 months, and 10% will be released every quarter thereafter
• VC round 9%: No unlock at TGE, details to be determined
• Ecosystem Fund 15%: Unlock 5% at TGE, and then release 3% every month
• Strategic reserve 6%: Unlock 10% at TGE, details to be determined
• Airdrop 3%: Unlock 1% at TGE, details to be determined
• Liquidity mining 40%: More than four years
• Initial circulation: 4,330,000 pieces

Token distribution and unlocking information, source: Lever LightPaper, TokenInsight

Financing Information

According to ChainNews, on April 20, 2021, Lever.Network, a decentralized margin trading platform, completed a seed round of $600,000. NGC Ventures, ArkStream, LD Capital, AU21 jointly led the investment, and DAOMaker, YBB, DFG and other institutions participated in the investment.

According to Gate.io’s official disclosure, Gate.Io Labs participated in Lever Network’s PE II round of investment.

Lever Network financing information, source: ChainNews, Lever Network

The team information has not been officially disclosed, but according to the information on the IEO page of Gate Startup, its initiator Jeff Lian is known as a veteran of the blockchain industry and has many years of work experience in world-renowned financial technology and IT companies.

Basic Information

• Offcial website: https://www.lever.network/
• Contract address: Not yet disclosed
• White paper: https://www.lever.network/Light-Paper.pdf
• Twitter: https://twitter.com/LeverNetwork 28k followers
• Medium: https://medium.com/@LeverNetwork 561 followers
• Telegram: https://t.me/LeverNetwork 17,525 members
• Github: https://github.com/levernetwork/protocol-v1

As a leading data service and rating agency in the industry, TokenInsight is deeply loved and supported by users at home and abroad. In order to give back to the community, TI will choose the opportunity and time to send out new project benefits. This issue is Lever Network, thanks to Gate for their great support for this article.

• Award setting: 50 prize winners in total, and each winner will get 10u $Lev token;
• Participation: Forward this article to Moments;
• Participation conditions: Follow TokenInsight official Twitter account; follow TokenInsight WeChat official account, add TI welfare officer to join TokenInsight official community;
• Lottery drawing mechanism: Send the screenshot of forwarding in Moments and the screenshots of your following of WeChat and Twitter official accounts to TI welfare officer, and wait for TI staff to issue numbers and draw prizes;
• The final interpretation right belongs to TokenInsight.

The major content of the full text has been compiled by TokenInsight into this poster. Please keep it.