Protocol Village: Proof of Play Adds ‘Boss’ as 2nd Arbitrum Orbit Chain, Lombard Launches LBTC, Dragonfly and Polychain Back Restaking-Powered Stablecoin

Conduct VILLAGE EXCLUSIVE: Peregrine Exploration, a blockchain research and development firm, raised $3.6 million in a funding general area of co-led by Dragonfly and Polychain Capital to develop Level, “the first stablecoin protocol powered by restaked dollar nominals.” According to the team, Level makes it easy to “restake” stablecoins – meaning the assets can be used to earn interest and collateralize other blockchain protocols. Level’s stablecoin, lvlUSD, will launch in private beta in the coming weeks with a mainnet start planned for Q4. Users will be able to mint lvlUSD tokens and earn Level XP (points), restaking points, and Aave over on their dollar-backed stablecoins like USDT and USDC. “Level was founded on the belief that the two most important use instances of crypto are the permissionless access to digital dollars and the ability to provide economic security to decentralized networks,” said Peregrine Investigation CEO David Lee. “Level combines these two use cases into a single product, opening up a whole new world of opportunities for restakers, AVSs, and DeFi narcotic addicts.”