lvlUSD is Level's USD-pegged stablecoin backed by USDC and USDT positions deployed into lending protocols. Level documentation states that the product entered redeem-only mode in 2025, with minting paused and lvlUSD/slvlUSD being sunset.
Key Data
| Backing | USDC deployed into lending protocols; USDT deployed into lending protocols; Receipt tokens from Aave and Morpho-related lending positions |
| Redemption | Level documentation states that minting is paused, lvlUSD is in redeem-only mode, redemptions are public and fixed at 1:1 to underlying collateral, and the frontend would remain available until 2025-12-15 before users would need to interact directly with smart contracts. |
| Peg Currency | USD |
| Launched | 2025 |
Supported Networks
Use Cases
Overview
lvlUSD is Level's USD-pegged stablecoin backed by USDC and USDT positions deployed into lending protocols. Level documentation states that the product entered redeem-only mode in 2025, with minting paused and lvlUSD/slvlUSD being sunset.
Key Features
- Fully backed by USDC and USDT deployed into lending protocols
- Yield historically distributed to staked slvlUSD rather than ordinary lvlUSD
- Minting paused and protocol placed into sunset in 2025
- Public 1:1 redemption process during wind-down
Reserve Backing
USDC deployed into lending protocols; USDT deployed into lending protocols; Receipt tokens from Aave and Morpho-related lending positions.
Supported Networks
Available on Ethereum.
Other USD Stablecoins
Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.