DOCS

How your coin
takes a position.

Every Levra coin launches with a leveraged perp on a stock behind it. This page explains where the money comes from, where it goes and what happens when the trade wins or loses.

2% hook fee70% to the position2x to 10xOn Robinhood Chain

How it works

Trading fees become a stock position.

01
Someone trades the coin
Every buy and sell on the coin's Uniswap v4 pool pays a 2% fee in ETH. The pool's hook takes it on the way through.
02
The fee feeds the position
70% of it becomes margin for the coin's perp position on its stock. 20% goes to the creator, 10% to Levra.
03
Profit burns the coin
When the position is far enough in profit, part of it is closed, and the profit buys the coin back and burns it.

Where the 2% fee on every swap goes
Fee	Rate	Goes to
Position margin	1.40%	Added to the coin's position by the keeper.
Creator	0.40%	Sent to the wallet that launched the coin.
Levra	0.20%	Protocol revenue, shared with $LEVRA.

Launching a coin

Pick the coin, then pick its trade.

A launch asks for the usual things (name, ticker, picture, links) and then for the trade the coin will carry. The trade is part of the coin from the first block and cannot be changed afterwards.

Market

One stock from the list

NVDA, TSLA, SPCX, AAPL, SPY or QQQ at launch. The list grows as Lighter lists more stocks.

Side and leverage

Long or short, 2x to 10x

Leverage is capped at 10x: with small early margin, higher leverage would be liquidated by ordinary moves.

Buyback threshold

+25% by default

How far in profit the position has to be before the keeper takes some of it. The creator can set it between +10% and +100%.

Every coinstock × side × leverage, funded by 70% of every swap fee

One coin, one position. Each coin has its own isolated position. Nothing is pooled between coins, so one coin's loss never touches another's margin.

The pool opens at launch. The coin gets a Uniswap v4 pool paired with ETH straight away, with the Levra hook attached. There is no curve to graduate from.

The position

An isolated position that grows with volume.

Margin collects in the coin's treasury as fees come in. In batches, the treasury swaps it to USDG and deposits it into its own account on Lighter, the perps exchange that runs on Robinhood Chain, and the keeper adds it to the position. These are the markets at launch and their leverage cap:

NVDANVIDIA10x
TSLATesla10x
SPCXSpaceX5x
AAPLApple10x
SPYS&P 500 ETF10x
QQQNasdaq 100 ETF10x

Batches

Every 30 minutes, or at $250

Whichever comes first. Batching keeps gas costs low and means a rush of launches never blocks a position from opening.

Market hours

Around the clock

Lighter trades stock perps 24/7, like the coins themselves, so fees keep feeding the position on nights and weekends. Prices can jump at the open, which is one reason leverage stops at 10x.

Venue

Lighter, on Robinhood Chain

Positions open on Lighter, the official perps exchange of Robinhood Chain. Margin is USDG on the same chain, so nothing is bridged. Lighter sits behind an adapter and can be replaced without touching any coin.

The coin owns its account. Each coin's treasury contract is the owner of its Lighter account. The keeper trades with a key the treasury registers on chain, but a withdrawal can only go back to the treasury, so the keeper never holds the margin.

Everything is on the coin page. Stock, side, leverage, entry price, mark price, PnL, liquidation price, margin received and margin in the position, updated as it changes.

Buyback and burn

When the bet pays, the supply shrinks.

Take profit

Half the profit, at the threshold

When unrealized profit reaches the threshold on margin, the keeper closes enough of the position to realize half of it. The rest stays in the trade.

Buy and burn

Bought on the coin's own pool

The realized profit is withdrawn back to the coin's treasury, buys the coin on its pool and sends it to the burn address. 10% goes to $LEVRA first.

Each buyback½ × unrealized profit → 90% buys the coin and burns it, 10% to $LEVRA

Close and burn are one job. The keeper closes, withdraws to the treasury, buys and burns as one job with retries. If a step fails it is retried, and every attempt is written to the keeper log.

Every action links to its transaction. Top-ups, partial closes, buybacks and burns show up on the coin page as separate events, each with its transaction.

When it goes wrong

Losses stay with the coin that took them.

Drawdown

New fees can top up margin

If the stock moves against the position, new fees can be added as margin to keep it open. The creator chooses at launch; it is on by default.

Liquidation

Shown, not hidden

If the position is liquidated, the coin page says so plainly, with the transaction. Nothing is rescued with someone else's money.

After that

A fresh position opens

The next fees open a new position with the same stock, side and leverage. The coin keeps its trade.

Leverage cuts both ways. A 10x long loses its margin on a 10% drop. Lower leverage survives longer; higher leverage reaches the buyback threshold sooner.

$LEVRA

The platform token holds a position too.

Revenue

From every launch

The 10% Levra share of every swap fee on every coin, plus 10% of the realized profit from every buyback.

Its own trade

Long SPY, 3x

$LEVRA launches on Levra like any other coin, with a long SPY position behind it. It shows the mechanic on itself and rises with the market.

FAQ

Common questions.

Do I need to do anything to get the buybacks?

No. Buybacks burn the coin, so every holder owns a slightly bigger share of a smaller supply. There is nothing to claim or stake.

Can the stock, side or leverage change later?

No. They are set at launch and stay with the coin. If you want a different trade, launch a different coin.

What happens when the stock market is closed?

Nothing pauses. Lighter trades stock perps around the clock, so the coin keeps trading and fees keep feeding the position. Prices can jump when the exchange reopens.

Can a position be liquidated?

Yes. Leverage works both ways. A liquidation is shown on the coin page with its transaction, and the next fees open a fresh position with the same trade.

Where do positions actually open?

On Lighter, the perps exchange that runs on Robinhood Chain itself. Each coin's treasury owns its own Lighter account, and the margin is USDG on the same chain.

Can the keeper take the margin?

No. The treasury contract owns the Lighter account. The keeper's key can trade and request withdrawals, but a withdrawal can only return to the treasury. If the keeper stops, the treasury can cancel orders, close the position and withdraw on its own.

Is there an APY?

No. What a coin's position earns depends on its stock and on how much the coin trades. The coin page shows what has actually happened, event by event.

Contracts

The contracts, on Robinhood Chain.

Coin factoryPublished at launchAt launch
Fee hookPublished at launchAt launch
Position treasuryPublished at launchAt launch
KeeperPublished at launchAt launch
Perp adapterPublished at launchAt launch
$LEVRA tokenPublished at launchAt launch

Follow the launch

Every position, in the open.

Addresses are published here and on X the moment the contracts are deployed.

Follow @uselevra