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 addresses on Base LEVER token: 0xb200000000000000000000893fa432c1214f6601 Buyback contract: 0x42601f31Ef12Cece1682f4a7ea4e4bF077B85234 Until both lines above carry a verified address, treat any address you are handed as unverified — including one that looks official.

Two engines, one direction

Every LEVER the protocol buys or receives is sent to the dead address. Not most of it, not a share held back as depth — all of it. Two flows feed that burn, 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 — is the protocol's. Every coin, whatever its underlying, whichever way its own bet goes, buying or selling. That share is forwarded to the buyback contract, which spends it on LEVER and burns what it bought.

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 forwarded to the buyback contract and spent on LEVER. 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 v4 pool on Base, reachable by any router, bot or aggregator.

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

The buyback contract

The buying and the burning are done by one small contract, LeverBuyback, and its shape is the whole guarantee:

• Nothing can leave it except as LEVER to the dead address. There is no withdraw, no rescue, no sweep — not for the owner, not for anyone. The only transfers it ever makes are a swap into LEVER and a transfer of LEVER to 0x…dEaD.
• Funding is open. USDC, ETH or LEVER can be sent by anyone; the locker's protocol share and the claimed o1 creator fees land there. Every deposit is an event.
• Buying takes a floor. A buy spends the USDC or ETH held on LEVER through LEVER's Uniswap v4 pool (via the ETH/USDC pool when the asset spent is not the pool's quote) and reverts unless it received at least the LEVER the caller asked for. Because a floor a stranger picks is a floor a sandwich bot picks, executing a buy is limited to the protocol's executor keys. Burning LEVER that is already there needs no judgement, so burnHeld is open to everyone.
• The owner can set two things: who may execute, and the pools. The LEVER pool key must contain LEVER and be quoted in ETH or USDC, the bridge must be the ETH/USDC pool — the contract checks both — so a pool change can only send the same money through different pools, never somewhere else.

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

LeverBuyback.totalBurned()      → what the buyback itself has sent to the dead address
LeverBuyback.totalUsdcSpent()   → USDC spent on buys, cumulative
LeverBuyback.totalEthSpent()    → ETH spent on buys, cumulative
LeverBuyback.held()             → USDC, ETH and LEVER waiting to be spent or burned

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 what feeds the buyback.