Leverage tokens without decay.
Full leverage while the pool has headroom. If price runs past it, your leverage compresses. It never liquidates.
Hear it first.
The testnet opens first. The details of DCL follow. This list hears both before they are public.
What is coming
No decay. No funding. No liquidations.Full leverage for as far as the pool's headroom reaches; past it, leverage compresses toward 1x, and it never liquidates.
Headroom is the further price rise the pool can back at full leverage. Leveraged funds rebalance every day, and in a volatile market the rebalancing erodes the position. A Decayless token does not rebalance: inside its headroom, a 2x token's value follows the square of the price. One fee on entry, one on exit; nothing while you hold. Its value can fall.
Leveraged stocks, as tokens.
Stock tokens are ordinary ERC-20s now. Decayless is built for Ethereum and for Robinhood Chain: leverage tokens on stocks, without the daily reset. Stock tokens are available in eligible regions only.
- MSTR, 5 Jun 2025 to 5 Jun 2026
- −67%
- MSTU, its 2x daily fund
- −95%
- Constant 2x on the same move, in theory
- −89%
No admin key can take the funds.
DCL is fixed at genesis and has no owner. The engine's code cannot be changed by anyone, from the day it is deployed. Until an engine is ossified, its keys can pause new entries at once and change the fee inside fixed bounds with three days' notice; exits stay open through all of it. Within a year each engine either ossifies, and has no admin key from then on, or winds down and everyone redeems.
The only thing that decays here is the supply.
Nothing mints after genesis. Half of every fee is auctioned for DCL, and half of every winning bid is burned. Supply only goes down. Details to come.
Price returns between 5 June 2025 and 5 June 2026. The constant-leverage figure is the price ratio squared: a theoretical payoff at full headroom, before fees. The fund's gap to it comes from daily rebalancing, financing and fees. Source: Yahoo Finance daily closes, adjusted for splits and distributions (MSTR, MSTU).
Nothing on this page is an offer to sell or a solicitation to buy any token or security.