Leveraged tokens
on Elysium.
2x and 3x, long and short, on the major Hyperliquid markets. Minted and redeemed in USDC. Every token is backed by a real perpetual position on Hyperliquid, and the system manages its leverage so it never reaches liquidation.
Each token is matched by an open perpetual position on Hyperliquid, sized to the supply. Mint opens it, redeem closes it.
Exposure drifts with the market. Past the band the position is resized back to target, long before any liquidation level.
Leveraged tokens join the launchpad as base tokens. A coin can launch against BTC2L the way it launches against HYPE today.
Markets at launch
every market · 2x and 3x · long and short| Market | Tokens | Backed by | Mint / redeem |
|---|---|---|---|
| Crypto | |||
| BTCBitcoin | BTC2LBTC2SBTC3LBTC3S | BTC-USD perp · Hyperliquid | USDC |
| ETHEthereum | ETH2LETH2SETH3LETH3S | ETH-USD perp · Hyperliquid | USDC |
| SOLSolana | SOL2LSOL2SSOL3LSOL3S | SOL-USD perp · Hyperliquid | USDC |
| HYPEHyperliquid | HYPE2LHYPE2SHYPE3LHYPE3S | HYPE-USD perp · Hyperliquid | USDC |
| XRPXRP | XRP2LXRP2SXRP3LXRP3S | XRP-USD perp · Hyperliquid | USDC |
| DOGEDogecoin | DOGE2LDOGE2SDOGE3LDOGE3S | DOGE-USD perp · Hyperliquid | USDC |
| ZECZcash | ZEC2LZEC2SZEC3LZEC3S | ZEC-USD perp · Hyperliquid | USDC |
| XMRMonero | XMR2LXMR2SXMR3LXMR3S | XMR-USD perp · Hyperliquid | USDC |
| Equities | |||
| NVDANVIDIA | NVDA2LNVDA2SNVDA3LNVDA3S | NVDA-USD perp · Hyperliquid | USDC |
| TSLATesla | TSLA2LTSLA2STSLA3LTSLA3S | TSLA-USD perp · Hyperliquid | USDC |
| AAPLApple | AAPL2LAAPL2SAAPL3LAAPL3S | AAPL-USD perp · Hyperliquid | USDC |
| MSFTMicrosoft | MSFT2LMSFT2SMSFT3LMSFT3S | MSFT-USD perp · Hyperliquid | USDC |
| SPACEXSpaceX | SPACEX2LSPACEX2SSPACEX3LSPACEX3S | SPACEX-USD perp · Hyperliquid | USDC |
| Pre-IPO | |||
| OPENAIOpenAI | OPENAI2LOPENAI2SOPENAI3LOPENAI3S | OPENAI-USD perp · Hyperliquid | USDC |
| ANTHROPICAnthropic | ANTHROPIC2LANTHROPIC2SANTHROPIC3LANTHROPIC3S | ANTHROPIC-USD perp · Hyperliquid | USDC |
| Commodities | |||
| GOLDGold | GOLD2LGOLD2SGOLD3LGOLD3S | GOLD-USD perp · Hyperliquid | USDC |
| SILVERSilver | SILVER2LSILVER2SSILVER3LSILVER3S | SILVER-USD perp · Hyperliquid | USDC |
The list follows Hyperliquid's markets; more are added as they list.
Pay USDC, receive the token. The position behind it opens in the same step.
The token tracks 2x or 3x of the market's move. No funding to pay by hand, no margin to watch.
Return the token, receive USDC at the current value. Any time.