Levana in Coin Telegraph Report

Elan Neiger
3 min readJun 15, 2022


by Elan Neiger

Levana, an acronym for Leverage Any Asset, is the ground breaking, fire breathing dragon of the Terra ecosystem: a powerful, user friendly leveraged trading platform, blended with a radically innovative NFT / P2E gaming experience. Think Axie Infnity or DeFi Kingdoms, supercharged on Terra with a DeFi engine of perpetual swaps under the hood. Games aren’t your thing? Not to worry — the trading platform is separate and open to all.

The protocol’s thesis centers on the concept of DeFitainment: a mix of entertainment and DeFi:

Incubated by Delphi Digital, the team that incubated Astroport and Mars, and actively developed by Jonathan Caras, a member of the Luna Foundation Guard, Levana Dragons is currently the most successful NFT project on Terra in terms of wallet holders, trading volumes, and number of NFTs.

Levana began with a revolutionary, gamified NFT minting model. The protocol kicked of with the Meteor Shower, a gamified minting experience that resulted in the largest NFT mint on Terra and $4 million raise in just 44 hours. Levana continues to develop the project with new adventures; their games reward players in the form of unique NFTs, which have use cases of their own. Levana is also a DAO; their imminent airdrop will go to members of the Levana community (i.e. players of their games).

Now in the midst of the first Faction War (think Color Wars from summer camp) Levana has released several easy-to-play P2E games, engaging new users while stimulating others to stay. The only entry requirement — holding any Levana NFT in your Terra wallet.

While the NFT/P2E Levana Dragons game helps onboard new users, don’t sleep on Levana’s innovative DeFi protocol. Levana Leveraged Index (LLI) tokens are the protocol’s first DeFi offering. Luna2x is the first LLI, an easy way to hold a 2x leveraged position on Luna, the native token of Terra. Leveraged Luna is the first step on Levana’s DeFi journey, which is planned to include leveraged assets of MIR, ANC, MARS, Pylon, Nebula, leveraged baskets by Nebula, and cross chain leverage of BTC, ETH, and more. Their platform of perpetual swaps is among the most anticipated DeFi offerings in the Terra ecosystem.

Even their liquidation management is unique; the Levana Leverage Capsule mitigates the risk of liquidation on the platform by introducing an auto-rebalancing mechanism with public incentives, that will drastically reduce the risk of a liquidation occurrence. The coming Levana metaverse game will use their DeFi platform of perpetual swaps as the engine of action, rather than an AMM, as do the current generation of Play 2 Earns in the crypto space. Want to learn more? Check out their Twitter.

“It simply isn’t an adventure worth telling if there aren’t any dragons” - JRR Tolkien




Elan Neiger

A crypto and blockchain addict and nearly full time podcast listener