Level slvlUSD
Sunset . ethereum . 0x4737D9b4592B40d51e110b94c9C043c6654067Ae
What this vault advertises, against what it actually paid, measured from its own share price on chain over a 30 day window. Everything below is recomputed hourly and every figure on this page comes from the snapshot named at the bottom. Nothing here is typed by hand.
Advertised
none published
Realized
0.00%
30 day window
Gap
no claim to compare
this protocol advertises no yield figure.
What Level published.
Level publishes no yield figure we can record for slvlUSD on a first-party surface, so this row carries a realized reading and no comparison. That is a description of what is published, not an accusation.
Recompute it yourself.
The realized figure is two calls and one exponent. Both calls are pinned to a block height, so they return the same values for you as they did for us, forever. Use any archive endpoint. We deliberately do not name one: a reproduction that runs on our RPC is not a reproduction.
The call
Chain
ethereum
Contract
0x4737D9b4592B40d51e110b94c9C043c6654067Ae
Method
convertToAssets(uint256)
Argument
1000000000000000000 (one whole slvlUSD share, 18 decimals)
eth_call data
0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000
Returns
lvlUSD, 18 decimals
The argument is one whole share in the SHARE token's own decimals, which is not always eighteen. Kerne's own skUSD reports twenty four, so calling it with 1e18 returns a millionth of the right answer. Ask the vault for its decimals rather than assuming, exactly as our collector does.
At the start of the window
Block
25539888 (0x185b530)
Timestamp
1784140607 (2026-07-15 18:36 UTC)
Share price returned
1.148556137630990128
At the end of the window
Block
25755112 (0x188fde8)
Timestamp
1786732607 (2026-08-14 18:36 UTC)
Share price returned
1.148556137630990128
Start of window, cast
RPC_URL=... cast call 0x4737D9b4592B40d51e110b94c9C043c6654067Ae "convertToAssets(uint256)(uint256)" 1000000000000000000 --block 25539888 --rpc-url "$RPC_URL"End of window, cast
RPC_URL=... cast call 0x4737D9b4592B40d51e110b94c9C043c6654067Ae "convertToAssets(uint256)(uint256)" 1000000000000000000 --block 25755112 --rpc-url "$RPC_URL"Start of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x4737D9b4592B40d51e110b94c9C043c6654067Ae","data":"0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000"},"0x185b530"]}End of window, raw JSON-RPC
{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x4737D9b4592B40d51e110b94c9C043c6654067Ae","data":"0x07a2d13a0000000000000000000000000000000000000000000000000de0b6b3a7640000"},"0x188fde8"]}Both calls return an integer in the smallest unit of lvlUSD. Divide by 10 ** 18 to get the share price printed above. Set RPC_URL to any archive endpoint you trust.
The arithmetic
growth = 1.148556137630990128 / 1.148556137630990128
elapsed = 1786732607 - 1784140607 = 2592000 seconds
annualized = (growth ^ (31536000 / 2592000) - 1) * 100
= 0% (0% over the window)
Simple compounding at the observed rate, on a 365 day year. No fee assumption, no reinvestment assumption, no smoothing. If your arithmetic lands somewhere else, that disagreement is the finding and we want it: liam@kerne.fi.
Context for this row.
In redeem-only mode, no longer accruing, and publishing no yield figure. Level's own documentation for this vault carries the notice that Level is now in redeem-only mode and directs holders to unstake, the same page states that yield reaches slvlUSD holders by share price appreciation, so the quantity this board measures is the one Level itself describes, and its home page now carries a further announcement that the team is joining another protocol and sunsetting the product. The share price has not moved since 2025-10-31, a date we locate by binary searching the chain for the last block at which it changed, and it has now been flat for about two hundred and eighty six days; over the trailing year it grew about 5.46 percent, all of it before that date. Reading a flat share price here as deception would be wrong. A protocol that announces a wind-down, stops accruing and tells holders to leave is behaving correctly, and this figure is the record of that rather than a hidden fee.
This page measures one axis and one only: advertised yield against realized yield. It is not a rating, not an audit, and it says nothing about whether Level is safe or whether its reserves are what it says they are. A protocol in an announced wind down paying nothing is behaving correctly. The reserve axis is a different page, at the reserve transparency scorecard.
Take this row with you.
This page
https://kerne.fi/honesty-index/level-slvlusdCitation
Kerne Honesty Index, 2026-08-14: Level (slvlUSD) advertised none published, realized 0.00% from on-chain share-price growth, gap no claim to compare (this protocol advertises no yield figure). Source: https://kerne.fi/honesty-index#row-level-slvlusdBadge, markdown
[](https://kerne.fi/honesty-index#row-level-slvlusd)Badge, HTML
<a href="https://kerne.fi/honesty-index#row-level-slvlusd"><img src="https://kerne.fi/honesty-badge.svg?row=level-slvlusd" width="360" height="112" loading="lazy" alt="Kerne Honesty Index: advertised versus realized yield"></a>Row in the API
https://kerne.fi/api/honesty-index/row/level-slvlusd
Where these numbers came from.
Snapshot generated
2026-08-14 18:37 UTC
Snapshot source
live store
Signature
verified, signer 0x84949170e0ad0f9bd8686a4aa4922c10f5fdc4ea
Row key
level-slvlusd
The signature is checked on every render rather than assumed from the presence of a field. A snapshot that does not verify is served with that said plainly instead of borrowing the word.
Board last read 2026-08-14. Every figure on this page is regenerated from https://kerne.fi/honesty-index and none of them is stored in this file.