LVMON, the MON ecosystem synthetic token at the core of LeverUp.

This mechanism has already reached measurable scale: from March 20 to June 25, sLVMON TVL grew from about 1.01M LVMON to 20.79M LVMON, roughly 20.5x. These numbers show growth in staked LVMON TVL and measurable share-value accumulation.

LVMON Stake APY is not a fixed-rate promise and not a black-box subsidy. It is the result of three components working together: underlying MON staking rewards, the staking participation rate among LVMON holders, and the sLVMON share value mechanism.

The core idea is simple: the protocol delegates underlying MON to Monad validators, while not every LVMON holder chooses to stake. Users who stake LVMON hold sLVMON and participate in the vault's asset growth. When the staking participation rate is lower, the same underlying yield is shared by a smaller group of stakers, which can make the displayed APY higher than a yield rate averaged across all LVMON holders.

Underlying Yield and Redistribution

LVMON is connected to the MON asset layer. The MONStakingVault delegates available MON to Monad validators and receives staking rewards.

MON reserves → delegate to Monad validators → validator rewards → LVMON system yield

Those rewards are not distributed equally to every LVMON holder. They are reflected through the sLVMON vault for users who choose to stake. A non-staking holder continues to hold LVMON; a staking user converts LVMON into sLVMON shares and participates in the vault's asset growth.

A simplified way to think about staker APY:

Underlying MON staking rewards ÷ LVMON actually participating in stake

When the amount of LVMON participating in stake is smaller than total LVMON supply, the same yield stream is concentrated across fewer stakers. As more LVMON holders participate, the denominator increases and APY should move toward a more stable level.

sLVMON Share Value

sLVMON uses an ERC4626 vault model. When users deposit LVMON, they receive sLVMON. Each sLVMON represents a share of the pooled LVMON assets, not a fixed amount of LVMON.

sLVMON share value = total LVMON assets in the vault ÷ total sLVMON supply

New deposits mint shares at the current share value. This means new stakers do not dilute existing stakers at a fixed 1:1 rate; the deposit is priced against the current asset-to-share ratio.

The direct expression of APY is the growth of sLVMON share value:

Vault assets grow faster than sLVMON share supply → each sLVMON redeems for more LVMON → share value growth is annualized as APY

On-Chain Snapshot

As of June 25, 2026 at 23:59:59 UTC, Monad mainnet block 83,703,985:

Metric Value
sLVMON vault assets 20,789,833.34 LVMON
sLVMON supply 6,713,784.08 sLVMON
1 sLVMON redeemable value 3.0950 LVMON
MON delegated through MONStakingVault 62,354,420.51 MON

From March 20 to June 25:

  • sLVMON TVL grew from 1.01M LVMON to 20.79M LVMON (20.5x)
  • sLVMON share value grew from 1.9933 LVMON to 3.0950 LVMON (~1.55x)

These figures support two points: LVMON Stake is connected to an underlying MON delegation yield source, and the staking yield is reflected through the amount of LVMON redeemable per sLVMON share.

Dynamic APY Inputs

LVMON Stake APY changes with system state. The main inputs are:

  • Underlying MON staking rewards
  • sLVMON TVL
  • LVMON holder staking participation rate
  • The timing of reward inflows
  • Actual sLVMON share value growth

APY should therefore be understood as the current participant yield rate, not a permanent fixed number.

Security and Transparency

Users do not need to rely only on the APY shown in the frontend. The mechanism can be checked through on-chain values:

  1. sLVMON totalAssets()
  2. sLVMON totalSupply()
  3. sLVMON previewRedeem(1 sLVMON)
  4. MONStakingVault stakedBalance

These values correspond to vault assets, share supply, current redeemable value, and the scale of underlying MON delegation.

Key mechanism constraints:

  • sLVMON follows the ERC4626 vault model, so the asset-to-share relationship is verifiable.
  • New stakers receive shares at current share value, avoiding fixed 1:1 dilution of existing stakers.
  • MON delegation and sLVMON share value can be cross-checked on-chain.
  • APY is the annualized expression of share value growth, not a fixed yield commitment.

Relevant LeverUp smart contracts have undergone third-party security assessments, including Zenith audits.

Summary

LVMON Stake APY comes from underlying MON delegation yield distributed through the sLVMON share value mechanism. Because not all LVMON holders participate in stake — some flow into trading — stakers can receive a more concentrated yield stream. That stream appears as each sLVMON becoming redeemable for more LVMON over time.

Data source: Monad RPC archive calls and deployed contract addresses from deployment/monad.json. Historical data is not a future APY guarantee.

Stake LVMON: app.leverup.xyz/LVMON