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An Overview of BTCBULL2X
Summarize in ChatGPTBTCBULL2X amplifies Bitcoin price change by two times. If Bitcoin climbs 5% in price, BTCBULL2X goes up 10% in price. The token does not liquidate, and maintains constant leverage to achieve higher growth potential than a regular 2x long.
Deposits are added to Aave and wound up to target leverage
Actual leverage is monitored within target range
If leverage goes outside of the target range, it's rebalanced to enter the edge of the target range again
Because of the constant re-leveraging, when price of the underlying keeps moving in one direction this token moves exponentially
Toros leveraged tokens are best used for short term directional upside. Single direction movements can exceed returns compared to typical perp leverage products. This is because Toros increases leverage as its price increases, to maintain the leverage range.
In sideways (up-down) markets, Toros pools can underperform typical leverage products. This is known as Volatility Decay. Toros pools work similarly to Leveraged ETFs. Volatility decay occurs through rebalancing and rebalance fee. Additional decay is also caused by borrowing rates. Toros pools are therefore intended for short term directional bets for best results.