This verse reveals both what God (as the greater covenant partner) promised to Levi, as well as what God required from Levi (the lesser covenant partner). God promised Levi life and peace. That is, God promised that Levi would enjoy a life of peace with God, and all the blessings that flowed from a life of peace. God blessed Levi and his descendants with these blessings of life and peace. Conversely, God required from Levi and his descendants fear (which produces reverence and obedience, Deuteronomy 5:29). And Levi and his earlier descendants fulfilled their covenant obligation. They fear and obeyed God. This is in stark contrast to the Levites of Malachi’s day, who had by their unfaithfulness angered God, and invoked his curse which was essentially the death knell of their ministry.
5 Mon alliance avec lui était une alliance de vie et de paix, Ce que je lui accordai pour qu'il me craigne; Et il a eu pour moi de la crainte, Il a tremblé devant mon nom.