Stablecoin protocol Level announced that it has been acquired by a leading DeFi company and will gradually cease operations.

Odaily Planet Daily News: The yield-based stablecoin protocol Level announced that it has been acquired by a leading DeFi, and the Level team will join the protocol later.

As part of this transition, the Level Protocol (including lvlUSD and slvlUSD) will be phased out. All users will be able to unstake slvlUSD and redeem lvlUSD, and all cooldown periods will be reduced to 2 seconds. The last tranche of earnings will be distributed on October 2, 2025, after which no earnings will be generated, regardless of whether the asset remains staked. The front-end interface will remain operational until December 15, 2025, after which users will still be able to unstake and redeem directly through the smart contract.