To be honest, in this DeFi world where even "stablecoins" are starting to roll out yields, I rarely feel that a protocol is "not simple." But this time, @levelusd's lvlUSD really made me stop in my tracks, and I couldn't help but take a closer look and dive deeper into it. Web3 DeFi players often say "stablecoins are the lifeblood of the chain," but in reality, most stablecoins are just passing liquidity around, and few really pay attention to "is it working for you, making you money?" Level is rewriting that narrative. Level @levelusd is a protocol backed by Dragonfly and Polychain, but its ambitions go far beyond "who's behind it." The core stablecoin it issues, lvlUSD, is an asset fully backed by USDC and USDT, with each one continuously working and generating yields in blue-chip lending protocols (like Aave, Morpho). It sounds very DeFi 101, but what truly impressed me is that it achieves low risk, high yield, and on-chain transparency all at once—very rare, very valuable. Even better, Level hasn't locked the yields "in a closed system." It further launched slvlUSD, a yield vault (based on the ERC-4626 standard), where you can stake lvlUSD and directly participate in yield distribution—what's even more amazing is that currently only about 30-45% of lvlUSD is staked, meaning fewer people are sharing all the yields, so the annual yield of slvlUSD naturally "rolls up." I don't like to talk about yields without substance because many projects behind them carry uncontrollable high risks. But I agree with Level's strategy—all yields come solely from blue-chip lending protocols like Aave and Morpho, without the anxiety of "if something goes wrong, everything collapses" that comes from excessive DeFi Lego stacking. As an old Web3 user who has struggled through a bear market, this sense of security is, to be honest, more important than the yield. Not to mention, Level's integration capabilities are also exceptional. lvlUSD and slvlUSD have deeply integrated into core ecosystems like Morpho, Pendle, Spectra, and Curve, making this "stablecoin + yield" system truly possess DeFi-native liquidity and application capabilities. For example, you can use lvlUSD as collateral on Morpho to borrow USDC, then go back and mint more lvlUSD, forming a stable cycle of compounding strategies. Or on Pendle, you can use slvlUSD and PT/YT product combinations to achieve yield locking + secondary trading, and in some pools, Level's liquidity depth has already surpassed aUSDC. I haven't seen a project with such a system, planning, and yet not flashy or relying on airdrops to cut leeks in a long time. It doesn't attract attention through emotional hype but rather impresses you through product mechanisms and actual integration. Ultimately, Level gives me the impression of not being a short-term spike but rather a stable yield infrastructure with depth and future potential. In this new cycle of "wanting stability but not being able to lie flat," Level's value may still be far from being truly discovered. 🌟🌟🌟 The next wave of truly "tech-driven" stable yield narratives may just start from lvlUSD. If you're ready, don't just "watch from the sidelines"; getting positioned on-chain is always better the earlier you do it. After reading Lao Cha's introduction, you probably want to start understanding Level and get involved. Below, Lao Cha has put together a simple tutorial for reference: Minting and Staking Tutorial: 1: You only need to prepare an EVM-compatible wallet (like MetaMask), deposit a small amount of ETH as gas fees, and prepare USDC, USDT, ETH, WBTC, or any other asset, then visit the official website to start. 2: First, click "Sign In" in the upper right corner to connect your wallet, then select "Buy" from the left menu to exchange your assets for lvlUSD. After the transaction is completed, the system will pop up three options: you can choose to stake lvlUSD to earn yield (Earn Yield), participate in XP farming (Farm), or provide LP on Curve to get more incentive points (20x XP). 3: If you choose to stake for yield, just click "Earn Yield," enter the amount of lvlUSD you want to stake, first click "Approve" to authorize, then click "Stake" to confirm the transaction, and you will receive slvlUSD, with compounded yields automatically received every Thursday (⚠️⚠️ Note: Unstaking requires a 3-day cooling period). 4: If you prefer the points gameplay, click "Farm" on the left, find the row for lvlUSD, click the "+" sign, enter the amount, authorize, and deposit to start earning XP at a 10x multiplier (if you provide LP, you can also enjoy a 20x reward). Finally, if you want to see the rankings, just go to the "Leaderboard" page to check your farming results and current ranking. Staking for yield, farming for points, providing LP rewards maximized, so easy? Now visit Lastly, I saw they announced a collaboration between Level and Morpho @MorphoLabs, where users can use lvlUSD as collateral to borrow USDC on Morpho, with a maximum borrowing ratio of 91.5%, but it's recommended to keep it lower to avoid liquidation. The borrowing rate is about 1.2% annualized, so be mindful of costs and risks. The borrowed USDC can also be used to mint more lvlUSD, achieving circular utilization. Through staking, liquidity mining, and other methods, you can also earn high multiples of Level XP, greatly enhancing asset utilization efficiency. This cross-protocol integration not only enhances the utility of lvlUSD but also brings users more opportunities to earn yields, which is worth trying!