Two independent prices
Pyth and Chainlink must agree inside the configured deviation band. Stale, missing or disputed prices stop mint, redeem and rebalance.
Solana mainnet
Public stocks + commodities via Ondo · pre-IPO via PreStocks · SolanaTrade leveraged tokens.
Trade leveraged tokens.
Not margin accounts.
Holder liquidationNonePilot cap$100Protocol fee0.5%
LevPlay · Stocks
AAPL2L
Liquidation-free holder structure
Underlying Ondo referenceReference unavailableChecking reference provider · settlement locked
Settlement guardFail-closed
Outcome preview
2× long daily target
The vault rebalances exposure; returns compound and will not equal 2× over longer periods.
−20%Underlying move+20%
Rebalance band±10% target driftUnderlyingAAPLon on SolanaKeeper modelPermissionless calls
Launch integrity
Mainnet stays locked until every proof is onchain.
No keeper custody
Anyone may call deterministic rebalancing. Vault assets remain in program-derived token accounts; a keeper key cannot withdraw them.
Funded Standby floor
Emergency deleveraging removes exposure at the safety floor. The UI may show residual NAV only when isolated USDC actually backs it.
Protocol brief
Understand the position before you play it.
LevPlay packages a daily leverage target into a transferable Solana token. The holder never opens a margin account; funded Standby can preserve residual NAV, but it cannot guarantee principal or recovery.
One wallet signature
- Choose a position using USDC already in your wallet.
- One atomic transaction sends position capital to its isolated vault and the 0.5% fee on top to the pinned treasury.
- Vault shares mint from conservative net asset value back to the same wallet.
- Permissionless keepers restore the daily leverage target inside strict bounds.
- Closing burns shares before USDC returns to the same wallet.
Liquidation-free, not loss-free
No creditor can liquidate the holder's wallet and the holder cannot owe more than invested capital. A funded Standby floor removes exposure and isolates residual collateral; it cannot promise recovery, and an overnight gap can exceed its reserve. Compounding, volatility drag, oracle failure, issuer controls and backing liquidity remain material risks.
Prices fail closed
Ondo API and PreStocks DEX prices are display-only. Execution requires fresh Pyth and Chainlink observations within the configured deviation and confidence limits. A stale feed, issuer halt, paused Token-2022 mint, corporate action window or mismatched mint stops activity.
Solana-native controls
Exact Token-2022 mints, deterministic program accounts, allowlisted adapters, pre/post balance checks and capped slippage define every value-moving instruction. Governance and emergency pause must use separate multisigs; keepers never receive custody.
What does daily target mean?
The vault aims to restore its leverage each rebalance period. Over several days, compounding means performance can differ materially from leverage multiplied by the underlying's total return.
Why are some markets blocked?
A market stays research-only until its exact mint, two independent settlement feeds, long and short backing routes, capacity, unwind path and audited deployment pass. PreStocks currently adds useful pre-IPO references, but not those missing leverage and oracle proofs.
Can I trade when stocks are closed?
Source tokens may trade on secondary venues outside the primary session, but minting, redemption and price formation can differ. LevPlay displays session state and still enforces independent settlement checks.
Who controls the source token?
Ondo and PreStocks may retain issuer controls. LevPlay treats each provider as an external trust boundary, stops new mints on source changes, isolates every product and preserves close-only pro-rata exits.
Where does the 0.5% fee go?
The fee applies only when opening a position and is added on top of the chosen capital. In this preview it is calculated for testing but no funds move. Mainnet must send USDC directly to the pinned token account owned by the treasury multisig; both addresses are verified on Solana and displayed before signing.
Who holds the treasury private key?
The planned treasury is a program-controlled multisig vault, so the vault itself has no private key. Independent members keep their own hardware-wallet keys and a threshold of approvals is required to move funds.