How it works
Bonding curve
Each token has a constant-product curve whose reserve asset is the leveraged token, not USDT. Both sides of the curve move: the token price in USD is the curve price multiplied by the LT's exchange rate.
Parameters
| Parameter | Value |
|---|---|
| Total supply | 1,000,000,000 |
| On the curve | 75% |
| Reserved for the pool | 25% |
| Virtual liquidity | $4,000 |
| Graduation threshold | $12,000 |
| Trading fee | 1% |
| Minimum seed | 5 USDT |
Convexity
Because the reserve is leveraged, the effective exposure of a token is larger than the LT's nominal leverage — a 3x-backed token can move 8–15% for each 1% of the underlying, depending on where it sits on the curve.