How it works
Leverage launches coins that are paired with a leveraged token or a popular memecoin instead of plain SOL. Here's what that changes, and what it can cost you.
How pairing works
Every coin on a bonding curve is priced in something. On most launchpads that's SOL. On Leverage you choose the asset when you launch, and the coin's price is measured in it from then on.
You can still pay with SOL. The swap goes through the pair asset for you.
What leveraged tokens are
A leveraged token moves with an asset at a multiple of that asset's move. Leverage starts with three from Hylo: xSOL, xBTC and xHYPE. When SOL moves, xSOL moves by roughly 2 to 4 times as much, and xBTC and xHYPE work the same way for BTC and HYPE.
A coin paired with xSOL carries that move in its USD price, on top of whatever people do with the coin itself.
The multiple isn't fixed. It changes with the market and the protocol's state, so the figure we show is a live approximation.
Memecoin pairs
Pair with a memecoin like BONK or WIF and your coin rides that meme's price and community. While your coin is on its curve, every buy also buys the paired meme.
Fees
- Trading on the curve costs 1%, shown before you sign.
- Of every fee, Meteora keeps 20%, the coin's creator receives 40% and Leverage receives the rest.
- 50% of Leverage's share goes into the next-token fund, which pays for new leveraged tokens to pair with.
- Fees are paid in the pair asset. Every claim is shown publicly.
Graduation
When the bonding curve fills, its liquidity moves to a Meteora DAMM v2 pool, still paired with the same asset. That liquidity is locked permanently, so it can't be pulled. The volume faders on the site show how close each coin is.
The next leveraged token
Holders vote on which leveraged token Leverage adds next. The list only includes assets with a deep perps market, because that's what a leveraged token is built on.
The fund fills from fees. When the vote closes, we first ask an existing issuer like Hylo to list the winner. If they won't, the fund pays to build it ourselves, with an audit and a trading pool, once it covers the cost.
50% of Leverage's fee share goes here once coins are trading. The balance will be public and shown here.
The shortlist
- BONK, 3× long
- WIF, 3× long
- ETH, 3× long
- JUP, 3× long
- POPCAT, 3× long
Voting opens when $LEVR launches. It's free: you sign a message with your wallet, and no transaction is sent.
Roadmap
- Launch
Pair a coin with xSOL, xBTC or xHYPE, or with BONK, WIF or POPCAT.
- Vote and fund
Voting opens for the next leveraged token, and part of the fees starts filling the fund.
- New leveraged tokens
The winning token is listed with a partner or built from the fund, then added as a pair. Each vote adds the next one.
- Mixed pairs
Plug one coin into several inputs at once, for example half xSOL and half BONK.
- Stocks
Leveraged stock pairs, once a stock token exists that pools can safely hold.
Risks
Read this before you launch or buy.
- Losses are amplified. Leveraged pairs amplify losses as well as gains. Your coin can fall even if nobody sells it.
- The pair asset can collapse. A leveraged token can lose most of its value if the asset under it drops sharply, and every coin paired with it falls too.
- Leverage can change when you least want it to. The effective multiple can rise as the market falls, which makes further falls hit harder.
- Meme pairs inherit volatility. A coin paired with a memecoin moves with that meme, in both directions.
- Routing costs more. Paying with SOL means two swaps, so slippage and fees can be higher than on a plain SOL pair.
- Most new coins go to zero. Don't put in money you can't afford to lose. Nothing on this site is financial advice.