Overview
Levvy is an app where two strangers can agree on a loan without going through a bank. If you hold NFTs or tokens you don't want to sell, you can put them up as a deposit and borrow ADA against them. If you have spare ADA, you can lend it out and earn interest. Both sides agree on the loan size, the interest rate, and how long it lasts before anything happens, so nobody is surprised later. It's a way to get cash out of a digital collectible without losing it.
Levvy runs on Cardano and is operated by Angel Finance, the company that took over the project from its first owner, an NFT community called The Ape Society. It sits inside the broader lending-and-borrowing corner of Cardano. The current version is V3, but the older V2 site is still online at v2.levvy.fi so anyone with an existing loan from before can still close it out1.
Key Features
- Borrow without selling. Lock up an NFT or a token you already own, get ADA in return, and either pay back the loan to get your asset back, or let the lender keep it1. For background, see what NFTs are.
- Lend on your terms. Pick which NFT collections or tokens you're willing to accept, set the loan size, the interest rate, and how long the loan should run. Wait for a borrower to take your offer. Loans last around two to four weeks, not forever2.
- No surprises during the loan. The interest rate and the deadline are locked in when the loan opens. The price of the deposit can move around, but it won't trigger an early sale. At the deadline, you either pay back, or the lender keeps the deposit3.
- Two separate code audits. The lending side and a separate set of NFT marketplace tools have each been reviewed by an outside firm, and both reports are published openly45.
- Earnings flow back to ANGELS holders. Three quarters of the fees Levvy collects are paid out to holders of ANGELS, the token from the parent company. The rest is reinvested into the project. ANGELS is issued by Angel Finance, not by Levvy itself1.
What to Expect
When you arrive at levvy.fi, you see a dashboard with total loan volume, interest paid out, how much ADA is locked in the system, and how many loans are open. It gives you a quick sense of how busy things are before you connect a wallet. After that, the app walks you through four steps: pick an asset, decide whether you want to lend or borrow, choose the NFT collection or token, then either put up your deposit or send your ADA.
There are two sites running side by side. The current site at levvy.fi is where new loans happen. The older v2.levvy.fi site stays up so anyone with a loan from before can still manage it without losing access.
A bigger expansion called V3 Phase 2 is being built right now, funded by a Project Catalyst grant. It will add loans backed by staked ADA, rented voting rights, shared pools, and bigger leveraged trades. The team has also said they plan to publish the smart contract code openly under a permissive license3.
