Update on 2023-05-31
Token Symbol: ORDI5L
The Ordinals protocol creates inscription by writing content to satoshi. The inscription does not need to use a separate token, side chain or change Bitcoin; What the Ordinals protocol does is to write information to each Satoshi, such as text, pictures, audio and video, etc, making it possible to create digital artwork and NFT on Bitcoin. Due to the size limit of the Bitcoin block, the main information for inscribe (that is, mint mint) is mainly text and pictures , in the form of NFT and token.
ORDI5L is a leveraged token that goes long on ORDI with 5x leverage, which means that for every increase in the price of ORDI in the market, the leveraged ORDI token seeks a 5x increase in its price. ORDI5L is required to maintain its target leverage and does so through dynamic rebalancing to gain a net value increase by 5% when the price of ORDI goes up by 1%.
Due to such rebalancing and investment costs, ORDI5L 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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