Overview
Levvy is a peer-to-peer lending platform that lets people borrow ADA against NFTs or tokens they already own, and lets others lend ADA to earn interest on it. Borrowers and lenders agree on the loan size, interest rate, and length up front, so both sides know exactly what they signed up for. The setup means a holder can pull cash out of a digital collectible without selling it.
The platform runs on Cardano and is operated by Angel Finance, the parent organization that acquired Levvy from its original builder, the NFT community The Ape Society. Levvy sits inside the broader lending-and-borrowing corner of the ecosystem and runs on a V3 release, with an older V2 instance kept online at v2.levvy.fi for legacy positions1.
Key Features
- Borrow without selling. Lock an NFT or token you already hold as collateral, take ADA out against it, and either repay to reclaim the asset or walk away and let the lender keep it1. See more on NFTs as collateral.
- Set-your-own-terms lending. Lenders pick which collections or tokens they will accept, set the loan size, interest rate, and term length, then wait for borrowers to take the offer. Loans run for fixed windows of roughly two to four weeks rather than open-ended positions2.
- Fixed interest, no margin calls. Both sides know the rate and the deadline at the moment the loan opens. There is no automatic price-triggered liquidation while the loan is active — at the end of the term, the borrower either repays or the lender claims the collateral3.
- Two audited contract sets. The lending platform contracts and a separate set of NFT marketplace contracts have each been independently reviewed by an outside firm, and the audit reports are published openly45.
- Project-affiliated rewards. Three quarters of the fees Levvy collects are sent to holders of ANGELS, the token issued by parent organization Angel Finance, on an eighty-twenty split between monthly holder payouts and a treasury reinvestment pool. ANGELS is not issued by Levvy itself1.
What to Expect
Visitors land on a stats dashboard showing loan volume, interest paid out, value locked, and active versus historical loan counts — useful for getting a quick read on how active the platform is before connecting a wallet. The app itself walks through a four-step flow: pick an asset, choose whether to lend or borrow, select the collection or token, then either deposit collateral or supply liquidity.
Two separate sites coexist. The current V3 site at levvy.fi is where new activity happens. A V2 instance still runs at v2.levvy.fi so anyone with an open position from the older version can manage or close it without losing access. A V3 Phase 2 expansion — funded through Project Catalyst — is in development and will add lending against staked ADA, rented governance voting rights, shared liquidity pools, and leveraged positions, along with a commitment to publish the smart contract source under a permissive open-source license3. For broader context on how community-funded projects like this get off the ground, see what Project Catalyst is.
