> For the complete documentation index, see [llms.txt](https://vingt-io.gitbook.io/vingt.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://vingt-io.gitbook.io/vingt.io/vingt.io-products/leveraged-tokens.md).

# Leveraged Tokens

**VISP Leveraged Tokens** provide efficient and secure leveraged exposure to ETH and BTC, offering automated risk management through built-in liquidation protection and low, transparent fees. These tokens are fully collateralized by the underlying assets, ensuring real on-chain exposure and enhanced security. Powered by Aave V3, they automatically adjust leverage ratios and rebalance within predefined bounds, optimizing risk management and simplifying the leveraged trading experience.

## **Key Features**

**Overcollateralized Debt Positions**: VISP leveraged tokens use overcollateralized debt positions on Aave V3 to provide leveraged exposure, ensuring all positions are fully backed by underlying assets and reducing liquidation risk.

**Long and Short Positions**: Gain exposure to price movements in ETH and BTC with both long and short positions. Automated leverage adjustment and rebalancing ensure positions remain secure, even during market fluctuations.

**Automated Rebalancing & Liquidation Protection**: Leverage ratios are adjusted automatically in real-time, ensuring safe exposure and continuous liquidation protection without manual intervention.

**Lower Costs**: Compared to perpetual futures, VISP leveraged tokens offer significantly lower costs, leveraging Aave V3’s affordable borrowing fees, making them a cost-effective alternative for leveraged exposure.

**Short and Long-Term Exposure**: Easily manage leveraged exposure to ETH and BTC, with automated rebalancing ensuring that target leverage ratios are maintained for both short- and long-term strategies.

## Leverage Tokens (Arbitrum)

<table><thead><tr><th width="143"></th><th>Address</th><th width="155">Methodology</th><th>Fees</th><th>Blockchain</th></tr></thead><tbody><tr><td><p><img src="/files/bcSWGaF716aVcFkvw4vH" alt=""></p><p></p><p>ETH2x (ETH 2x Leverag</p></td><td><a href="https://arbiscan.io/address/0xe30d89E3B71270691d62c014BD64C756Fe318777">0xe30d89E3B71270691d62c014BD64C756Fe318777</a></td><td><p>Long Position<br><br>Target Ratio:<br>2</p><p></p><p>Leverage Ratio: <br>1.7391 - 2.3<br><br>Ripcord Ratio:<br>3</p></td><td><p>Annual Fee: 3.65%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr><tr><td><p><img src="/files/nBzhE2JdmQ1a1SY4zTmL" alt="" data-size="original"></p><p></p><p>ETH3x (ETH 3x Leverage Token)</p></td><td><a href="https://arbiscan.io/address/0x0E4DBc3f201f33876eC7b53495076eCA0fC26821">0x0E4DBc3f201f33876eC7b53495076eCA0fC26821</a></td><td><p>Long Position<br><br>Target Ratio:<br>3</p><p></p><p>Leverage Ratio: 2.6087 - 3.45<br><br>Ripcord Ratio:<br>3.65</p></td><td><p>Annual Fee: 5.48%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr><tr><td><p><img src="/files/IpuP0raecNAeFbnY6b3M" alt="" data-size="original"></p><p></p><p>iETH1x (Inverse ETH -1x Leverage Token)</p></td><td><a href="https://arbiscan.io/address/0xd6f1093f474bA300ad378239d743cA33EfDd8457">0xd6f1093f474bA300ad378239d743cA33EfDd8457</a></td><td><p>Short Position <br><br>Target Ratio:<br>2<br></p><p>Leverage Ratio:<br>1.7391 - 2.3</p><p></p><p>Ripcord Ratio:</p><p>3<br></p></td><td><p>Annual Fee: 3.65%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr><tr><td><p><img src="/files/9xfp8gisqAFzWhcPpRWe" alt="" data-size="original"></p><p></p><p>BTC2x (BTC 2x Leverage Token)</p></td><td><a href="https://arbiscan.io/address/0xddaaf04eE2c0ee8fb3Af961243b2912DD71825aD">0xddaaf04eE2c0ee8fb3Af961243b2912DD71825aD</a></td><td><p>Long Position<br><br>Target Ratio:<br>2<br></p><p>Leverage Ratio:<br>1.7391 - 2.3</p><p></p><p>Ripcord Ratio:</p><p>3</p></td><td><p>Annual Fee: 3.65%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr><tr><td><p><img src="/files/1buoRRO3lOpOtR0iEF3c" alt="" data-size="original"></p><p></p><p>BTC3x (BTC 3x Leverage Token)</p></td><td><a href="https://arbiscan.io/address/0x360e50B2aF3af585CF9A14021bD55BbeAa6e603b">0x360e50B2aF3af585CF9A14021bD55BbeAa6e603b</a></td><td><p>Long Position<br><br>Target Ratio:<br>3<br></p><p>Leverage Ratio:<br>2.6087 - 3.45</p><p></p><p>Ripcord Ratio:</p><p>3.65</p></td><td><p>Annual Fee: 5.48%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr><tr><td><p><img src="/files/QLVPatMMk5V7ujGMxVr7" alt="" data-size="original"></p><p></p><p>iBTC1x (Inverse BTC -1x Leverage Token)</p></td><td><a href="https://arbiscan.io/address/0x642db5e65287FCd25885D8fB68478F6e96933648">0x642db5e65287FCd25885D8fB68478F6e96933648</a></td><td><p>Short Position<br><br>Target Ratio:<br>2<br></p><p>Leverage Ratio:<br>1.7391 - 2.3</p><p></p><p>Ripcord Ratio:</p><p>3</p></td><td><p>Annual Fee: 3.65%<br></p><p>Mint Fee: 0.10%<br></p><p>Redeem Fee: 0.10%</p></td><td>Arbitrum</td></tr></tbody></table>

<figure><img src="/files/ypv7TQs5CJWms2bWEA6c" alt=""><figcaption></figcaption></figure>

## Underlying Asset Characteristics

<table data-header-hidden><thead><tr><th width="172.33333333333331"></th><th width="310"></th><th width="290"></th></tr></thead><tbody><tr><td><h3>Leverage ETH/BTC</h3></td><td>Over Collateralized</td><td>Debt Position</td></tr><tr><td>ETH2x (ETH 2x Leverage Token)</td><td><a href="https://arbiscan.io/token/0xe50fA9b3c56FfB159cB0FCA61F5c9D750e8128c8">Aave Arbitrum WETH (aArbWETH)</a></td><td><a href="https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831">USD Coin (USDC)</a></td></tr><tr><td>ETH3x (ETH 3x Leverage Token)</td><td><a href="https://arbiscan.io/token/0xe50fA9b3c56FfB159cB0FCA61F5c9D750e8128c8">Aave Arbitrum WETH (aArbWETH)</a></td><td><a href="https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831">USD Coin (USDC)</a></td></tr><tr><td>iETH1x (Inverse ETH -1x Leverage Token)</td><td> <a href="https://arbiscan.io/token/0x724dc807b04555b71ed48a6896b6F41593b8C637">Aave Arbitrum USDCn (aArbUSDCn)</a></td><td><a href="https://arbiscan.io/token/0x82af49447d8a07e3bd95bd0d56f35241523fbab1">Wrapped Ether (WETH)</a></td></tr><tr><td>BTC2x (BTC 2x Leverage Token)</td><td><a href="https://arbiscan.io/token/0x078f358208685046a11C85e8ad32895DED33A249">Aave Arbitrum WBTC (aArbWBTC)</a></td><td><a href="https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831">USD Coin (USDC)</a></td></tr><tr><td>BTC3x (BTC 3x Leverage Token)</td><td><a href="https://arbiscan.io/token/0x078f358208685046a11C85e8ad32895DED33A249">Aave Arbitrum WBTC (aArbWBTC)</a></td><td><a href="https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831">USD Coin (USDC)</a></td></tr><tr><td>iBTC1x (Inverse BTC -1x Leverage Token)</td><td><a href="https://arbiscan.io/token/0x724dc807b04555b71ed48a6896b6F41593b8C637">Aave Arbitrum USDCn (aArbUSDCn)</a></td><td><a href="https://arbiscan.io/token/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f">Wrapped BTC (WBTC)</a></td></tr></tbody></table>

## **Why VISP Leverage?**

* **Efficient On-Chain Leverage**\
  Access BTC and ETH long/short exposure using overcollateralized positions on Aave V3.
* **Built-In Liquidation Protection**\
  Smart contracts automatically adjust leverage ratios to reduce liquidation risk.
* **Lower Cost Than Perpetuals**\
  Enjoy leveraged exposure with transparent fees and no hidden funding rates.
* **Self-Custody & Transparency**\
  Your leveraged position is fully visible and secured on-chain, no intermediaries involved.