LEVER, the platform token

Leverage has its own token, LEVER. It is not a governance token and it does not entitle you to a stream of payments. It has one mechanism, and the mechanism is that supply only ever goes down.

Contract address — not yet published. This page is the reference for it. No LEVER address has been published for Base yet; treat any address you are handed as unverified until this page carries one — including one that looks official.

Two engines, one direction

Every LEVER the protocol buys is sent to a dead address. Not most of it, not a share held back as depth — all of it. Two flows fund those buys, and they are independent of each other.

1. The protocol's share of every trade on the platform. Every coin on Leverage charges 1% per swap, and 30% of that — 0.3% of the trade — goes to the protocol treasury. Every coin, whatever its underlying, whichever way its own bet goes, buying or selling. That treasury is what the buyback spends.

2. LEVER's own trading. LEVER is launched on o1 Launchpad, where every swap pays a 1% fee on the paired asset and 50% of it — 0.5% of every LEVER trade — is the creator's to claim. That creator is the protocol, and every claim is spent on the same buyback. The token pays for its own burn every time it changes hands.

The first flow scales with the platform. The second scales with the token. Neither depends on the other, and neither depends on anyone choosing to be generous.

Where it lives

LEVER is launched on o1 Launchpad, on Base — not through the Leverage launcher.

That is deliberate. o1 mints a fixed supply of 1,000,000,000 tokens and opens their whole float in one permanent Uniswap v4 position: the creator never deposits the paired asset, cannot remove the position, cannot mint more, cannot pause transfers, and cannot upgrade the token. LEVER carries no transfer tax and no admin — the same rules every coin on Leverage is held to, enforced by a launchpad built for exactly that. Its market is an ordinary Uniswap pool on Base, reachable by any router, bot or aggregator.

The only thing LEVER gets that a Leverage coin does not is the reason it lives there: o1's creator fee stream, which is what funds the burn from the token's own trading.

What LEVER is not

It carries no governance rights, no claim on protocol revenue you can exercise, and no redemption. The treasury's share reaches holders by removing supply from the market, not by paying anything out.

It is also not backed. Coins launched on Leverage bond onto a leveraged tracker and acquire a floor; LEVER does not. Its value is what the market says it is, against a supply that only shrinks.

Reading it yourself

Nothing here asks to be taken on trust. The burn is a balance, not a claim:

LEVER.balanceOf(0x…dEaD)    → supply already burned
LEVER.totalSupply()         → what it is measured against

The live figures are on the metrics page, read straight off the chain rather than from an indexer — so they hold wherever the token trades.

And the flow that funds the buying is public too, for any coin:

PermanentLockerV3.protocolFees(token)    → the protocol's unclaimed share
PermanentLockerV3.CREATOR_SHARE_BPS()    → 7000, so the protocol takes the other 3000

claimProtocolFees pushes that share to a treasury address that is immutable in the locker. It cannot be redirected — not by us, not by anyone — and it is the address the buyback draws from.

The second flow is public on o1: LEVER's creator fees accrue on chain per trade and are claimed from the creator profile, and every claim shows up as a buy of LEVER followed by a transfer to the dead address.