Update on 2023-11-21
Token Symbol: GAS3L
Neo is the most feature-complete blockchain platform for building decentralized applications. Neo enables developers to digitize and automate the management of assets through smart contracts. Multi-language support (including C#, Python, Go, TypeScript, and Java) makes it easy for developers to build on the platform in the language they are most comfortable with. Neo also provides powerful native infrastructures such as decentralized storage, oracles, and domain name service, creating a solid foundation for the Next-Gen Internet. There are 2 kinds of native tokens defined in the Neo system: NEO and NeoGas (GAS). GAS is the fuel token for the realization of Neo network resource control, with a smallest unit of 0.00000001. Users can obtain GAS either through a claim or purchase. When using the Neo network, they need to pay a certain amount of GAS as network fees, such as transfer, registering assets, publishing assets, running DApps, etc.
GAS3L is a leveraged token that goes long on GAS with 3x leverage, which means that for every increase in the price of GAS in the market, the leveraged GAS token seeks a 3x increase in its price. GAS3L 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 GAS goes up by 1%.
Due to such rebalancing and investment costs, GAS3L 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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