Levrly is a brand for dETH and its yet-to-be-named successor, and will soon be a DAO with the $LEVR token. The $LEVR token will be the primary profit capture mechanism of dETH and its successor, and will be constructed such that it provides significant liquidity that matches the sale of the token. More info on this here.
dETH and its as-yet-unnamed successor are pure DeFi products that are somewhat separate from Foundry’s dominant theme of radical freedom, so it makes sense to treat these products as separate. Levrly will have its own DAO with a separate token, a separate Telegram community, and a distinct marketing plan. However, Foundry will be granted a premine of $LEVR tokens. This will ensure that the success of the Levrly project will benefit Foundry and $FRY holders, who have essentially funded the project.
This is Foundry’s main focus at the moment. First and foremost, we are validating the underlying value proposition by marketing dETH. If dETH itself can make profit, this provides a lot of vindication for Levrly generally. Second, we are refining the brand strategy and product visual design. The better we nail this, the more the initial hype will explode, so it’s important to get this right. Third, Schalk of Team Toast is working hard on a “Long/Short Pair” product that will generalize dETH in some very interesting ways. This will use Aave debt tokens, as opposed to dETH which uses Maker Vaults to hold DAI debt.
We will soon begin implementing the $LEVR sale contracts and interface. This may coincide with the launch of the Long/Short Pair product that Schalk is currently implementing. Either way, upon launch of the $LEVR token, any profit from this line of products, including dETH, will be directed to put upward pressure on the $LEVR token. See our roadmap for more.
The contracts for the $LEVR sale and dETH’s successor are both being written for use on Ethereum, but we are also looking at deploying both on Polygon. The interface will be written in NextJS, and will function similarly to the dETH interface.