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2 changes: 1 addition & 1 deletion docs/archive/september_audit.md
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## Level Protcol Contracts
## Level Protocol Contracts

The Level Protocol is structured around the ERC-20 `lvlUSD` stablecoin and its staked counterpart `slvlUSD`. `LevelMinting` allows institutional participants to mint `lvlUSD` by collateralizing stablecoins like USDC and USDT and to redeem collateral by burning `lvlUSD`. `StakedlvlUSD` allows users to stake their `lvlUSD` to gain exposure to long-tailed basis trade positions and to earn yield -- this exposure is tokenized by `slvlUSD`. `Freezer` enables a first-loss protection mechanism by which stakers take on risk to protect the value of `lvlUSD`: while `slvlUSD` may accrue yield, it may also lose a portion of its value when `lvlUSD` held by the staking contract is frozen to preserve the value of `lvlUSD`. `Slasher` is responsible for burning `lvlUSD`.

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