Update on 2023-01-10
Token Symbol: CELO3L
Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users.The network also allows for the creation of smart contracts and decentralized applications (DApps) as part of decentralized finance (DeFi).
CELO3L is a leveraged token that goes long on CELO with 3x leverage, which means that for every increase in the price of CELO in the market, the leveraged CELO token seeks a 3x increase in its price. CELO3L is required to maintain its target leverage and does so through dynamic rebalancing to gain a net value increase by 3% when the price of CELO goes up by 1%.
Due to such rebalancing and investment costs, CELO3L may suffer a net value loss when the market fluctuates. Please note, AscendEX’s leveraged tokens are not suitable for long-term investment. Investors must be cautious while investing in leveraged tokens and manage their investment risks in a timely manner.
Leveraged tokens differ from regular tokens for spot trading in that there is higher risk and volatility, which could bring about great returns or losses in a single day. Please learn more about leveraged tokens in our help center before making an investment.
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