Two structural upgrades defined this week: staking became universally accessible, and the protocol introduced a new funding model that meaningfully changes the cost dynamics of holding positions. Trading activity followed — weekly volume surged 148% week-over-week.

Here's everything.

Protocol Updates

LVMON Staking Is Now Open to Everyone

The staking allocation model has been replaced. Any wallet can now stake $LVMON and earn yield directly, with no allocation limits or registration requirements. The program closed the week with 13.3M LVMON staked and a current APY of 63%.

New Funding Model — Cubic OI

LeverUp deployed a cubic open interest funding model that restructures how funding rates are calculated. Under normal market conditions, the new model reduces funding signals by up to 75% compared to the previous linear approach — without relaxing risk controls or removing the protocol's ability to respond to imbalances when they develop.

For traders holding positions through multiple funding periods, the cumulative effect is meaningful. The change also improves the conditions under which the protocol can sustain open interest growth without creating persistent funding headwinds for one side of the market.

Read the full breakdown →

Protocol Metrics (Jun 1–7)

Trading Activity

  • Reported Volume (7D): $188.82M (+147.8% WoW)
  • TVL: $2.21M (+4.7% WoW)

Revenue & Fees

  • Trading Fees (7D): $40,078 (+141.4% WoW)
  • Protocol Revenue (7D): $37,861 (+166.3% WoW)

Vault

  • Protocol Vault Value (MON): 61.17M (+13.3% WoW)
  • Protocol Vault Value (LVUSD): $869,415.35 (+2.8% WoW)

LVMON Staking

  • Total Staked: 13,322,013 LVMON (+185.1% WoW)
  • Current APY: 63%

$LV Buyback

  • 36,311.74 MON deployed for buybacks (+81.5% WoW)
  • 16,612.54 LV burned (+82.4% WoW)

Ecosystem Programs

AnyCollateral — The program accepting Monad ecosystem tokens as trading collateral remains open for applications. → ac.leverup.xyz

Pingu Trader Welcome Program — LeverUp launched a dedicated welcome program for active Pingu traders. The campaign runs for one month, with trading rebates distributed after it ends.

From the Community

Alex 101: The Illusion of Liquidity — Co-founder Alex launched a new educational series on trading fundamentals, starting with a piece on what liquidity actually means in practice for traders.

Community Recap of Recent Updates — @Dev shared a summary of LeverUp's recent product and ecosystem developments, helping more traders stay current with the protocol's direction.

LVMON Staking Returns Shared — @SEVEN posted his recent $LVMON staking rewards publicly, illustrating what the current yield environment looks like for stakers on Monad.

$46M Daily Volume Milestone — LeverUp crossed $46M+ in trading volume in a single day, becoming the leading perp venue on Monad by daily volume. Multiple community members and contributors noted the milestone as a signal of the protocol's growing market share within the ecosystem.

Community $LV Accumulation — Kizzy shared that they have built a substantial $LV position, one of several community members publicly noting their protocol token exposure this week.

Coming Next Week

DOKDO × LeverUp Trading Competition — A trading competition with DOKDO launches next week.

Trade on LeverUp: app.leverup.xyz