Level Finance
In my De-Fi interview series, we will talk with developers, founders, influencers and people that share the best alpha and have won the community’s respect. This time we’re talking to Kane who are close to Level.Finance platform , and discuss few interesting question about De-Fi and blockchain.
How long have you been in crypto & what was your first investment?
I entered the world of cryptocurrency in the beginning of 2021. Initially, I made my first investment in Bitcoin without having a deep understanding of its underlying mechanisms, simply hoping to generate some quick profits. However, as time went on, I delved deeper into the subject and developed a stronger interest in DeFi.
Tell us about Lelev.Finance. Is LEVEL a decentralised exchange (DEX)?
LEVEL is an on-chain, non-custodial, frictionless, and permissionless DEX. LEVEL functions as a decentralized exchange, operating without a centralized authority. This approach eliminates entry barriers through the utilization of permissionless smart contracts. By employing DEXs, the risk of price manipulation, as well as vulnerabilities to exploits and theft, is reduced since the exchange does not hold custody of the crypto assets themselves.
What relation you have to LEVEL?
I have a close connection with the development team and with one of the founders. I have been involved in the project since its inception and currently serve as the leader of the dev and solution architect department.
What blockchain platforms and technologies have you worked with and implement in LEVEL?
During my experience as a blockchain developer, I have worked extensively with two prominent blockchain platforms: Binance Smart Chain and Arbitrum. Binance Smart Chain is a blockchain platform that offers compatibility with the Ethereum Virtual Machine (EVM), allowing for the seamless migration and deployment of Ethereum-based applications. Arbitrum, on the other hand, is a layer 2 scaling solution for Ethereum, designed to improve scalability and reduce transaction costs while maintaining compatibility with the Ethereum network. Through my work, I have gained a deep understanding of these platforms and have hands-on experience in developing smart contracts and decentralized applications (dApps) on BSC and Arbitrum technologies.
Can you explain your understanding of smart contracts?
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They are deployed on blockchain platforms, such as Ethereum, and automatically execute transactions or actions when predefined conditions are met. Smart contracts eliminate the need for intermediaries, as the code itself enforces and executes the terms of the agreement.
As a blockchain developer, my understanding of smart contracts extends to their design, development, and deployment. I am proficient in programming languages such as Solidity, it’s used for Ethereum-based smart contracts and have experience in writing secure and efficient smart contract code. I am knowledgeable about the various components of a smart contract, including the contract logic, data storage, and interacting with other contracts and external systems.
In terms of my role in decentralized applications (dApps), I have actively contributed to the development and integration of smart contracts within these applications. I understand the significance of smart contracts as the backbone of dApps, enabling the automation of processes, the management of digital assets, and the execution of complex business logic in a trustless and transparent manner.
Have you implemented security measures in blockchain projects?
Yes, I have implemented security measures in blockchain projects to ensure the integrity and protection of the system. Security is a critical aspect of blockchain development, and I have significant experience in implementing best practices and following security protocols.
In terms of security practices, I have a deep understanding of common vulnerabilities and attack vectors in blockchain systems, such as reentrancy attacks, front-running, and timestamp manipulation. I actively incorporate security measures during the design and development phases of blockchain projects. This includes employing secure coding practices, implementing access controls, utilizing encryption techniques, and adhering to secure communication protocols.
I am also experienced in conducting vulnerability testing and audits. I perform thorough testing to identify and mitigate vulnerabilities within the blockchain project. This includes code reviews, automated testing, and penetration testing to ensure the robustness of the system. I am well-versed in utilizing security tools and frameworks specific to blockchain technology to assess and address any potential vulnerabilities.
Furthermore, I stay updated with the latest security practices and industry standards by actively participating in security-focused communities and engaging in continuous learning. I prioritize the importance of security in blockchain projects and strive to implement and maintain a high level of security throughout the development lifecycle.
How do you approach scalability and performance in blockchain applications?
When it comes to scalability and performance in blockchain applications, I approach the issue by considering various techniques and solutions to enhance the system's capacity and efficiency.
One common approach is through layer 2 solutions, such as state channels and sidechains. These solutions aim to alleviate the burden on the main blockchain by conducting off-chain transactions while still ensuring the security and finality of the main chain. I have experience working with layer 2 scaling solutions like Arbitrum, which can significantly enhance scalability and reduce transaction costs.
Another technique I employ is optimizing the code and data structures within smart contracts and the underlying blockchain platform. This involves designing efficient algorithms, reducing gas costs, and utilizing storage optimization techniques. By optimizing these components, the performance and scalability of the blockchain application can be improved.
Additionally, I explore sharding as a means of scaling blockchain applications. Sharding involves dividing the blockchain network into smaller partitions called shards, which can process transactions and execute smart contracts independently. This technique distributes the workload across multiple shards, enabling parallel processing and enhancing scalability. While I have theoretical knowledge about sharding, my practical experience in implementing sharding techniques may vary depending on the specific blockchain platform used.
Can you describe your experience with integrating external systems or oracles?
Certainly! I have significant experience with integrating external systems or oracles into blockchain applications. Integrating external data sources is crucial for blockchain applications that require real-world data or interactions with external systems.
To integrate external systems, I have worked with various APIs (Application Programming Interfaces) and web services to establish communication channels between the blockchain application and the external systems. This allows for the seamless exchange of data and interactions.
When it comes to oracles, I understand their role as trusted sources of off-chain data that are then fed into the blockchain. Oracles provide a bridge between the blockchain and external systems, enabling the smart contracts to access and utilize real-world data. I have integrated different types of oracles, such as centralized oracles and decentralized oracles, depending on the specific requirements of the blockchain application.
In terms of data security and reliability, I am well-versed in implementing measures to ensure the integrity and authenticity of the data obtained from external systems. This includes utilizing cryptographic techniques, data validation mechanisms, and implementing reputation systems for oracle providers.
I also have experience in developing custom oracle solutions when needed, especially for cases where existing oracle solutions are not suitable or available. This involves designing and implementing the necessary components to securely and efficiently fetch and deliver external data to the blockchain application.
Overall, my knowledge and experience with integrating external systems or oracles enable me to effectively incorporate real-world data and interactions into blockchain applications, enhancing their functionality and usability. I am familiar with industry-standard practices and protocols for integrating external systems, and I continually stay updated with emerging trends and advancements in this field.
Speaking in details on the example LEVEL. If i’m using this DEX and want to inject liquidity into the platform is any rewards and how do i get it?
When you create a liquidity pool position on Pancakeswap, you are providing liquidity for the LVL/BNB spot market enabling people to swap LVL tokens. When a user swaps between tokens in this pool, a trading fee is taken from them, a part of which is distributed to liquidity providers according to their share of the pool.
LP tokens from PancakeSwap can then be staked or farmed to earn additional rewards, either at LEVEL to earn LVL, or at PancakeSwap to earn CAKE.
Can I set a Stop Loss or Take Profit when I am leverage trading on LEVEL?
Yes! To do so, you can either create a market order position or a limit order position, once your position has been executed you will be able to define your stop loss or take profit.
I was one of the person who invest some to LEVEL at seed round and with LVL I got some LGO. What is LGO and why is the LEVEL team staking LVL in the LGO Staking contracts?
LGO is the native governance token of LEVEL, providing ownership and decision-making power within the LEVEL DAOThe LEVEL team is committed to safeguarding the platform in its early stages. To achieve this, the team need to be the majority holder of LGO, as governance rights are proportional to the LGO share held. Through the staking of LVL team tokens in return for LGO, the team’s ongoing share of governance is determined. For the first year, the LEVEL Team will hold greater than 50% of the LGO Supply. In the following years, the team will gradually reduce their LGO share relative to other holders.
In what ways does LEVEL plan to attract more liquidity to the platform?
In addition to allocating protocol revenue to liquidity providers (LPs), LEVEL also distributes additional incentives in the form of LVL tokens. Moving ahead, the vision of LEVEL includes establishing a multi-chain liquidity aggregator that consolidates fragmented liquidity from different ecosystems. This aggregator aims to create a unified pool where users can engage in trading, swapping, and borrowing activities.
If given the choice to invest in only one of two hypothetical protocols, with one founded by Vitalik and the other by Elon Musk, which protocol would you select and what factors would influence your decision?
I would probably invest in Vitalik’s protocol as he has a better understanding of how this industry works.
What advice you can give to young developers or who want to start in these direction?
Keep going and never stop learning! Through my experience, I have gained a strong grasp of smart contract development best practices, security considerations, and the overall lifecycle of smart contracts within decentralized applications. I am still continuously updating my knowledge and skills to stay current with the latest advancements in smart contract technology and best practices.
