$LAST on xHYPE, launched 2 min ago$RING on xSOL, up 95% in the last hour$FDBK on xSOL, graduated to Meteora$RING on xSOL, launched 3 min ago$CHORD on xSOL, $388K volume today$LOOP on POPCAT, launched 6 min ago$MOSH on BONK, graduated to Meteora$CHECK on BONK, 95% of the way to graduation$VALVE on xSOL, launched 9 min ago$ENCR on WIF, graduated to Meteora$LAST on xHYPE, launched 2 min ago$RING on xSOL, up 95% in the last hour$FDBK on xSOL, graduated to Meteora$RING on xSOL, launched 3 min ago$CHORD on xSOL, $388K volume today$LOOP on POPCAT, launched 6 min ago$MOSH on BONK, graduated to Meteora$CHECK on BONK, 95% of the way to graduation$VALVE on xSOL, launched 9 min ago$ENCR on WIF, graduated to Meteora
A normal launch is paired with SOL. Its price moves when people buy or sell that coin, and that's all.
Plug it into a pair asset
Here you pick what it's paired with: a leveraged token like xSOL, or a memecoin like BONK. The coin's price is now measured in that asset.
Pull the lever
xSOL moves with SOL at roughly 2 to 4 times the size. Your coin picks up that move, on top of its own.
The price gets louder
If SOL rises 5%, xSOL might rise about 15%, and your coin's USD price rises with it. It works the same way going down.
Graduation
When the bonding curve fills, the coin moves to a Meteora DAMM v2 pool, still paired with the same asset.
Louder cuts both ways
Losses are amplified too
A leveraged pair amplifies losses as well as gains. If SOL falls 10%, xSOL could fall around 30%, and your coin falls with it before anyone sells.
The pair asset can collapse
A leveraged token can lose most of its value if the asset under it drops sharply. Every coin paired with it falls too, and the leverage itself can rise as this happens.
Meme pairs share the meme's swings
A coin paired with a memecoin inherits that meme's volatility. If the meme falls, your coin's USD price falls. Most new coins go to zero whatever they're paired with.
The coin's bonding curve is priced in xSOL instead of SOL. Buyers still pay with SOL, and the swap goes through xSOL for them. Because xSOL moves with SOL at a multiple, the coin's USD price carries that move on top of its own.
Is the leverage fixed?
No. A leveraged token's effective leverage changes with the market and with the protocol's state. We show a live figure and mark it as approximate.
Can I get liquidated?
There are no positions and no liquidations on your coin. But the pair asset can lose most of its value in a sharp drop, and every coin paired with it falls too.
What does a memecoin pair do?
The coin's price is measured in that memecoin, so it rides the meme's price and community. Every buy also buys the paired meme, while the coin is on its curve.
What happens at graduation?
When the bonding curve fills, its liquidity moves to a Meteora DAMM v2 pool, still paired with the same asset.
Who gets the fees?
Trading fees are paid in the pair asset and split between the coin's creator and Leverage. Every fee claim is shown publicly.
Stay plugged in
New pairs, the leveraged-token vote and launch news go out on X first.
