Peregrine Exploration is a research and development company that contributes to digital asset projects. The company is currently developing Level, the protocol behind Level USD (lvlUSD), a stablecoin backed by restaked dollar tokens. It allows lvlUSD users to provide economic security with their dollar tokens and earn restaking yield without exposure to the price volatility of cryptocurrencies like ETH and BTC. lvlUSD will be able to be used in the rest of DeFi as a novel stablecoinprimitive.

https://www.finsmes.com/2024/08/peregrine-exploration-raises-3-6m-in-funding.html#:~:text=Peregrine%20Exploration%2C%20a%20NYC%2Dbased,by%20Polychain%20Capital%20and%20Dragonfly.