what's Levana Protocol?

Levana Protocol is a decentralized exchange designed for leveraged trading of any asset through perpetual swaps. Built on the Cosmos ecosystem, it enables permissionless and censorship-resistant markets with capital efficiency. The protocol addresses liquidity risks in traditional perpetuals platforms by implementing a "well-funded" model, where maximum profits for positions are locked in advance using collateral from liquidity providers. This setup eliminates bad debt risks for traders while rewarding providers with yields that include fees and risk premiums for market instability. Liquidity providers supply funds that serve as collateral for all positions, ensuring balanced markets without relying solely on opposing longs and shorts. Levana's token, LVN, governs emissions split across community, contributors, and treasury, with a structured issuance schedule over 30 months. Integrated with oracles like Pyth for price feeds, it supports trading on chains like Osmosis and plans expansions such as Rujira Perps, fostering interoperability in DeFi.

Levana Protocol is winding down operations.

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