LEV7 documentation
LEV7 Community Vault
The LEV7 Community Vault issues $ALLO shares for a tokenized perp account, the first of its kind. The 3% fee funds it, points decide who owns it, and any holder can redeem for USDG.
The LEV7 Community Vault is a tokenized perp account, the first of its kind. A single perpetuals account on Lighter that trades the seven MAG7 markets, wrapped in an ERC-7540 vault on Robinhood Chain, whose shares you can hold, transfer, and redeem daily.
Those shares trade under the ticker $ALLO and its value is the account's value divided by every share outstanding.
Stakers vote on what the account trades. The LEV7 project does not offer any shares of $ALLO for sale. It is only airdropped to qualifying ALLO rewards members.
How the vault gets funded
Every LEV7 purchase pays a 3% burn fee, and it's paid in USDG. That USDG goes to the treasury, which deposits it here. It is the vault's only source of capital.
How you get $ALLO
$ALLO is not for sale
The interface does not offer, sell, or take subscriptions for vault shares. There is no way to buy in. $ALLO reaches the community only through an airdrop against the published daily points calculation, and no airdrop is promised. It can be delayed, reduced, or stopped. See the risk disclosures and Terms of Use.
Those shares reach you through the daily airdrop below. Your share of the vault is your share of the day's points.
| Product name | The LEV7 Community Vault |
| Ticker | $ALLO |
| Share token | An ERC-20 carrying the symbol ALLO |
| Standard | ERC-7540 (async ERC-4626) with permit |
| Underlying asset | USDG |
| Strategy | A perpetuals account on Lighter |
| You get shares by | Earning points, then receiving the daily airdrop |
| You exit by | Requesting a redemption, settled on a daily cycle |
The daily airdrop
The vault settles once a day, and the airdrop is the last step of that cycle. The run sweeps in the USDG the treasury collected from burn fees, writes the strategy account's value on-chain to price the vault for the cycle, settles the redemptions queued against that price, then scores the day's points from verified LEV7 balances and splits that day's $ALLO across them pro rata.
Scoring is published with its result fingerprint before any token moves, and a keeper sends the airdrop out in batches. Only whole ALLO tokens are sent.
Every daily run closes with a signed-off record of each stage, so a completed cycle is a checkable claim rather than an announcement. No airdrop is promised, and a cycle can be delayed, reduced, or stopped.
How points become the daily airdrop →
Redeeming
Redemption is open to anyone holding $ALLO. Unlike deposits, it isn't gated.
Because the underlying account holds live positions, exits are asynchronous. You request a redemption, and it settles on the vault's daily cycle at the share price of that settlement. If the vault is short on USDG to pay it, the vault issues a capital call and the perpetuals account sends assets back.
If your request goes unsettled for two cycles, you can cancel it yourself, and anyone can push your stale redemption through on your behalf.
Safety features
The vault is priced by a reported NAV. Every limit below is in the contract, not in an operating procedure.
| Feature | What it does |
|---|---|
| Daily withdrawal cap | At most one seventh of the vault can leave per day, so the whole vault can wind down in a week. |
| High-water mark on the cap | The cap is measured against the highest NAV of the last seven days, not today's. A falling NAV can't shrink the door you leave through. |
| NAV freshness | A NAV older than 24 hours is stale, and the vault stops treating it as a price. |
| Report interval | NAV can be reported at most hourly and must be reported at least daily. |
| Deviation band | A single report can't move NAV by more than 20% against the last one. |
| Rolling drift budget | Consecutive small reports can't add up to an unbounded move inside a 24-hour window either. |
| Emergency exit | If NAV goes more than 7 days without a report, any holder can redeem pro rata against the cash on hand, with no manager involved. |
| Delayed strategy changes | The strategy address can only be changed after a 24-hour delay, and the change can be cancelled. |
Manual reports used when the NAV is stuck can only be activated when the existing NAV is more than 25 hours old.
The weekly challenge
Each week, the actively managed account is measured against a passive benchmark account over the same period, and the comparison is settled on-chain. The benchmark holds the previous week's allocation untouched, so the question the week settles is whether this week's change beat leaving things alone. It is never a comparison against last week's performance, and never an absolute return bar.
Both subaccounts are reset to the same starting equity when the week opens and run through the same market for the same week, so the allocation is the only difference between them. Each side's return is computed from its own opening and closing value, both recorded on-chain.
Clearing the bar means beating the benchmark's return by at least the larger of 1% of the benchmark's own move and 10 basis points.
When the week clears, everyone who participated earns a 7% bonus on their points for that week, which means a larger share of the next airdrop.
Read the risk disclosures before you rely on any of this.