FAQ

Its treasury is a live leveraged perp position on a real market. Above a liquidity floor, the protocol takes the excess capital in the coin's pool and opens a 5× position on Lighter. Gains from that position come back to holders as buybacks and burns; the pool's depth is refilled from it when people sell.

A normal memecoin only moves when someone trades it. This one also moves when the underlying market moves.

The backing perp gained or lost value, and the protocol acted on it — a buyback lifting the price, or margin being recalled and redeployed as depth. That's the underlying doing its work.

It cuts both ways: a quiet day where the underlying goes against the coin means the backing is thinning even though the chart looks calm.

Only above the floor — around $11,600 of WETH accumulated in its pool. Below that there is no perp position at all; the coin is a plain memecoin regardless of what its name or ticker suggests.

The hedge status on the coin's page tells you which state it's in.

No. You hold an ERC-20, not a margin account. Your position has no liquidation price, you'll never get a margin call, and nobody — not the protocol, not the keeper, not the venue — can force-close what you hold. You sell when you decide to.

The leverage lives in the protocol's perp position, not as a liability attached to your wallet, so your maximum loss is what you spent and your balance can never go negative.

No. There is no redemption right. The hedge reaches you through the price — buybacks lifting it and depth supporting it. You exit by selling on the pool like anyone else.

Constant leverage compounds, so volatility costs you even when the underlying goes nowhere. A ±5% round trip leaves a 5× position down 6.25% while the underlying is essentially flat.

It's not a fee — it falls out of the compounding math, and it's why leveraged exposure suits a short horizon better than a long one. See NAV, decay & funding.

Yes. At 5×, a −20% move in the underlying between two rebalances is a total loss of the backing, arithmetically. Continuous rebalancing is what makes a gradual −20% survivable; nothing makes an instant one survivable.

The coin itself keeps trading — but with no hedge behind it.

Coins launch into pools on the protocol's own Uniswap V4 PoolManager, gated so that only the protocol can provide liquidity. That's what stops a sniper from LP-ing on top of the ladder and capturing the coin's entire revenue path — a real attack observed in live testing.

The trade-off is that third-party trackers index the canonical Uniswap deployment, not ours, so they don't see these pools. Charts and history come from the app and its subgraph instead. Swapping stays permissionless for any V4-aware router.

The affected LT's NAV goes stale and its vault freezes — mint and redeem revert rather than transacting on an old price. Deliberate: the contracts refuse to trade on stale data.

Pool trading continues on existing depth. What stops is the hedge — no harvest, no margin recall, no buyback — until the keeper is back.

No. Every leveraged token has its own vault, its own oracle and its own margin, and live coins hold isolated perp positions where slot capacity allows. A wipe in one place doesn't propagate.

They cannot pull liquidity — the launcher contract owns every coin's LP position, and the pool is gated so no third party can even become an LP. A creator earns half the trading fees and holds no authority over the coin: no pause, no mint, no metadata change, no control over the hedge.

They can, however, sell a seed buy they made at launch, like any other holder.

1% on every swap, split 50/50 between the coin's creator and the protocol. Perp funding and venue costs are paid out of the hedge itself — they show up as drag on the backing, not as a charge on your swap.

There is no dollar minimum, but integer rounding can make a dust-sized trade produce zero output, which reverts. Use a sane amount.

No. There has been a Slither pass and manual review, with checks-effects-interactions ordering and dust/precision hardening — but no professional audit. Treat it as unaudited software.

15 underlyings: BTC, ETH, SOL, HYPE, LIT, HOOD, TSLA, NVDA, MSTR, SPCX, SPY, QQQ, XAU, XAG, WTI — each long or short, at a fixed 5×. 30 combinations in all.