The stablecoin protocol Level has announced that it has been acquired by a leading DeFi, and the protocol will gradually cease operations

the yield-bearing stablecoin protocol Level has announced its acquisition by a leading DeFi project, and the Level team will subsequently join this protocol.

As part of the transition, the Level protocol (including lvlUSD and slvlUSD) will gradually cease operations. All users can unstake slvlUSD and redeem lvlUSD, with all cooling periods reduced to 2 seconds. The last batch of yield distribution will be on October 2, 2025, after which no yield will be generated regardless of whether the assets remain staked. The front-end interface will continue to operate until December 15, 2025, after which users can still unstake and redeem directly through the smart contract.