Ask about Level · freeTotal Value Locked$457,821
TVL by Chain
Ethereum$457,821
Key Metrics
Fees 30d$0
Fees 30d by chain
Ethereum$0
Fees 7d$0
Ethereum$0
Fees 24h$0
Ethereum$0
Cumulative Fees$2.62m
Ethereum$2.62m
Revenue 30d$0
Revenue 30d by chain
Ethereum$0
Revenue 7d$0
Ethereum$0
Revenue 24h$0
Ethereum$0
Cumulative Revenue$0
Ethereum$0
Total Raised$6.2m
Aug 29, 2024$3.6mRound: PrivateInvestors: Polychain Capital, Dragonfly, Robot Ventures, Pier Two, EIV, Global Coin Research, Balaji Srinivasan, Julian Koh, Sidney Powell, Jeff Feng, MrBlock, GCR
Mar 18, 2025$2.6mRound: StrategicInvestors: Dragonfly Capital, Polychain Capital, Flowdesk, Blockchain Founders Capital
Protocol Information
Level is a yield-bearing stablecoin protocol powered by USDT and USDC deposited into DeFi-native sources.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Total yield were generated from backing collateral assets.View code on GitHubRevenue: The amount of yield are collected by Level protocol.View code on GitHubCompetitors
Level history
TVL is the default DefiLlama definition, which excludes Pool2. Daily values are UTC snapshots from Sep 2, 2024 to Oct 28, 2026.
All-time high TVL: $189.13m on May 22, 2025. All-time low TVL: $457,710 on Oct 22, 2026.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $459,387 |
| Sep 30, 2026 | $459,429 |
| Oct 1, 2026 | $459,432 |
| Oct 2, 2026 | $459,528 |
| Oct 3, 2026 | $459,607 |
| Oct 4, 2026 | $459,663 |
| Oct 5, 2026 | $459,724 |
| Oct 6, 2026 | $459,707 |
| Oct 7, 2026 | $459,634 |
| Oct 8, 2026 | $459,595 |
| Oct 9, 2026 | $459,695 |
| Oct 10, 2026 | $459,669 |
| Oct 11, 2026 | $459,753 |
| Oct 12, 2026 | $459,748 |
| Oct 13, 2026 | $459,894 |
| Oct 14, 2026 | $459,932 |
| Oct 15, 2026 | $460,083 |
| Oct 16, 2026 | $459,659 |
| Oct 17, 2026 | $459,843 |
| Oct 18, 2026 | $459,874 |
| Oct 19, 2026 | $457,749 |
| Oct 20, 2026 | $457,751 |
| Oct 21, 2026 | $457,754 |
| Oct 22, 2026 | $457,710 |
| Oct 23, 2026 | $457,769 |
| Oct 24, 2026 | $457,815 |
| Oct 25, 2026 | $457,804 |
| Oct 26, 2026 | $457,854 |
| Oct 27, 2026 | $457,766 |
| Oct 28, 2026 | $457,823 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $9.92m |
| Dec 31, 2024 | $37.71m |
| Jan 31, 2025 | $47.76m |
| Feb 28, 2025 | $62.03m |
| Mar 31, 2025 | $139.62m |
| Apr 30, 2025 | $172.5m |
| May 31, 2025 | $154.35m |
| Jun 30, 2025 | $126.42m |
| Jul 31, 2025 | $68.61m |
| Aug 31, 2025 | $49.62m |
| Sep 30, 2025 | $8.02m |
| Oct 31, 2025 | $2.69m |
| Nov 30, 2025 | $1.55m |
| Dec 31, 2025 | $1.34m |
| Jan 31, 2026 | $1.04m |
| Feb 28, 2026 | $767,800 |
| Mar 31, 2026 | $736,345 |
| Apr 30, 2026 | $716,155 |
| May 31, 2026 | $587,092 |
| Jun 30, 2026 | $568,534 |
| Jul 31, 2026 | $566,867 |
| Aug 31, 2026 | $460,261 |
| Sep 30, 2026 | $459,429 |
| Oct 28, 2026 (latest) | $457,823 |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $37.71m |
| Dec 31, 2025 | $1.34m |
Fees and revenue by UTC calendar month, Dec 2024 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Dec 2024 | $6,064 | $0 |
| Jan 2025 | $158,610 | $0 |
| Feb 2025 | $100,908 | $0 |
| Mar 2025 | $173,115 | - |
| Apr 2025 | $298,323 | - |
| May 2025 | $572,509 | - |
| Jun 2025 | $509,477 | - |
| Jul 2025 | $365,915 | - |
| Aug 2025 | $219,130 | $0 |
| Sep 2025 | $148,502 | $0 |
| Oct 2025 | $65,175 | $0 |
| Nov 2025 | $0 | $0 |
| Dec 2025 | $0 | $0 |
| Jan 2026 | $0 | $0 |
| Feb 2026 | $0 | $0 |
| Mar 2026 | $0 | $0 |
| Apr 2026 | $0 | $0 |
| May 2026 | $0 | $0 |
| Jun 2026 | $0 | $0 |
| Jul 2026 | $0 | $0 |
| Aug 2026 | $0 | $0 |
| Sep 2026 | $0 | $0 |
| Oct 2026 (to date) | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/level
Frequently asked questions
What is Level's TVL?
As of Oct 28, 2026, Level has $457,821 in total value locked. TVL has decreased 0.3% over the past 30 days.
What chains does Level operate on?
Level operates on Ethereum. Ethereum holds the largest share at 100%.
How much has Level generated in fees and revenue?
Over the past 30 days, Level generated $0 in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $53,274 in fees.
How does Level's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Level ranks #49 by TVL. The category holds $7.334b across 200 protocols, and Level accounts for <0.1% of that total. Similar protocols include Sky Lending, USDD, Liquity V1, crvUSD, Liquity V2, Reservoir Protocol, Frankencoin, Inverse Finance FiRM, BIMA CDP, and Inverse Finance Frontier.