Three contracts. One ceiling.
BTC, ETH and CC all run the full range to 1000× — no tiering by asset, no quietly lower cap on the one you actually wanted. Each contract settles against its Canton-native asset, so what backs your position is a real CIP-56 token rather than an exchange ledger entry.
| Contract | Underlying | Leverage | Settles in | Issuer | Notes |
|---|---|---|---|---|---|
| BTC-PERP | Bitcoin | 1× — 1000× | CBTC | BitSafe | Deepest book at launch. Marked off the same independent BTC feeds the rest of the market uses. |
| ETH-PERP | Ether | 1× — 1000× | CETH | onRails | Same rails, same ceiling, identical margin mechanics to BTC. |
| CC-PERP | Canton Coin | 1× — 1000× | CC | Native | Does not exist anywhere else at this leverage. Thinner book — size for it. |
| NEXT | — | Queued | CIP-56 | — | Every CIP-56 asset is a listing candidate. Gated on book depth, not on appetite. |
Move the dial. Watch the walls close.
Liquidation distance is 0.95 ÷ leverage, as a percentage of entry. At 100× that is a shade under one percent of room; at 1000× it is under ten basis points. The band below is drawn to a fixed ±2.00% scale so the difference is visible rather than described.
- Position size
- $25,000
- Liquidation
- −0.950% from entry
- Max loss
- $250
- Vibes tier
- 1.5×
- Vibes on close
- 375 VIBE
Indicative parameters. Levio is pre-launch; no order placed here reaches a market.
Every rung, priced in advance.
Leverage is not a slider with a warning sticker on it. It is an exact statement about how far price can move before your margin is gone. The top of the range exists because that call belongs to you — not because we think you should take it.
| Leverage | Liquidation | On $250 margin | Vibes tier | Reading |
|---|---|---|---|---|
| 1× | ±95.000% | $250 | 1.0× | Spot exposure, effectively. Price has to halve twice before anything happens. |
| 10× | ±9.500% | $2,500 | 1.0× | A normal bad day in crypto still leaves the position alive. |
| 50× | ±1.900% | $12,500 | 1.0× | A two-percent move is now the whole trade. Already the deep end at most venues. |
| 100× | ±0.950% | $25,000 | 1.5× | Under one percent of room. The ticket opens here. |
| 250× | ±0.380% | $62,500 | 2.2× | Ordinary intraday noise on BTC is wider than your liquidation band. |
| 500× | ±0.190% | $125,000 | 2.2× | Nineteen basis points. A single thick print can end the position. |
| 1000× | ±0.095% | $250,000 | 3.0× | The ceiling. Spread alone can take you out. We are not going to pretend this is investing. |
You pay when you win. Winners pay less.
Nothing to open. Nothing to hold. No funding payments in either direction, no maker or taker schedule, and no fee tier that quietly depends on last month's volume. When a position closes in profit, two deductions come out of the profit itself — never out of the margin you posted.
| Event | Charge | Taken from | Notes |
|---|---|---|---|
| Open a position | 0.00% | — | No entry fee at any size or leverage. |
| Hold a position | 0.00% | — | No funding paid or received. Holding overnight costs nothing. |
| Close at a loss | 0.00% | — | You pay nothing beyond the margin already posted. |
| Close in profit — deadband | 1 bp + oracle conf. | Profit | Covers real uncertainty in the mark at the instant of settlement, and nothing beyond it. |
| Close in profit — haircut | 2.00% → 0.10% | Profit | Starts at 2% of profit on small moves, falls to 0.1% on large ones. The bigger the move you catch, the smaller our share. |
| Liquidation | 0.00% | — | No penalty fee on top. The margin is the loss. |
Settlement-grade rails under a casino-grade dial.
Leverage this high only works if the settlement layer never argues. Canton was built for regulated institutions moving real assets — which turns out to be exactly what a 1000× position needs underneath it.
Privacy by default
Canton gives sub-transaction privacy: counterparties see what they need to and nobody else sees anything. On a public chain a large position at high leverage is a visible target with a computable liquidation price. Here it is simply not on display.
Atomic settlement
Collateral movement and position change settle in one transaction or not at all. There is no window in which your margin has left your control but your position has not yet arrived — the state that quietly eats accounts on bridged and multi-step venues.
Institutional collateral
The same network carrying BNP Paribas bond issuance and tokenized Treasury programmes. Your margin is a real CIP-56 asset with an issuer and a redemption path, not an IOU that exists only inside one exchange's database.
Composable by standard
Positions and collateral speak the network's own token standard, so they move between wallets and venues across the ecosystem. Nothing about Levio is designed to make leaving expensive.
Every closed position pays out twice.
Once in CUSD. Once in Vibes. Win or lose — Vibes are earned for trading, because trading is the only thing this exchange does. No quests, no daily check-ins, no referral grind, no points for connecting an account you already own.
| Tier | Leverage band | Multiplier | Per $10,000 closed |
|---|---|---|---|
| I | 1× — 99× | 1.0× | 100 VIBE |
| II | 100× — 249× | 1.5× | 150 VIBE |
| III | 250× — 599× | 2.2× | 220 VIBE |
| IV | 600× — 1000× | 3.0× | 300 VIBE |
Volume is the only input
Vibes accrue on notional actually closed, multiplied by the tier you actually traded at. There is no path to Vibes that does not involve putting on a position.
Losing trades still earn
The multiplier is on size and leverage, not on whether you were right. A bad month still builds a season.
Seasons settle
Season 01 runs from mainnet launch. What a season converts into is published before it opens, not improvised once the numbers are in.
The waitlist carries a multiplier
Everyone on the list at launch starts Season 01 above the base rate — for the whole season, not a first week.
Your downside is the margin you posted.
At 1000× the question was never whether a position gets liquidated. It is what happens to everything else when it does. Most accounts trading at the top of this range lose money — that is the single most important line on this page, and it is not in the footer.
- Liquidation is priced before you open — computed from your margin and the contract's maintenance buffer and printed on the ticket, not discovered afterwards in a notification.
- Losses stop at that position's margin — no negative balances, no claw into the rest of your collateral, and no socialised loss pool reaching back into a trade you closed last week.
- Isolated by construction — every position carries its own collateral. A liquidation on BTC has no claim on your ETH, your CC, or anything else in the account.
- Prices are not ours to move — marks come from independent oracle feeds. A feed that goes stale halts the contract rather than settling against you on a number nobody can defend.
- Your collateral stays yours — deposits and withdrawals are contract calls on Canton. There is no account for anyone at Levio to freeze and no withdrawal queue to get stuck behind.
- Thin books cut both ways — CC runs to 1000× like the others, but a shallower book means the move that reaches your liquidation can arrive faster. Ceiling and depth are different questions.
- Leverage is not capital efficiency — at 1000× you are not using less capital to hold the same risk. You are holding far more risk on the same capital, and the maths does not care how you framed it.
The questions you were going to ask anyway.
If something you need is missing here, it is an omission rather than a decision — say so and it gets added.
Q1What can I trade, and at what leverage?+
BTC, ETH and CC, each up to 1000×. There is no per-asset tiering — the contract you want is not quietly capped lower than the one on the poster. Each settles against its Canton-native asset: BTC via CBTC, ETH via CETH, and CC natively. More contracts follow as CIP-56 assets arrive, gated on book depth rather than on demand.
Q2When does Levio open?+
Waitlist first, then a closed testnet on Canton, then mainnet. The list is how you get into the closed phase — and everyone on it at launch starts Season 01 with a Vibes multiplier above the base rate. We email once when testnet opens; there is no drip sequence.
Q3Is 1000× actually usable?+
At the very top of the range, rarely — and we will not pretend otherwise. Under ten basis points of tolerance means ordinary spread can take you out before the trade has an opinion. The ceiling is 1000× because that choice should be yours to make rather than ours to impose, and because your liquidation band is on the ticket before you take it. The example above opens at 100× for a reason.
Q4How is my liquidation price calculated?+
From your margin and the contract's maintenance buffer, at the moment you open. The distance is approximately 0.95 ÷ leverage as a percentage of entry — so 100× gives about 0.95% of room and 1000× gives about 0.095%. It is shown as both a percentage and a band before you commit, and it does not move afterwards unless you add margin.
Q5What does it cost to trade?+
Nothing to open, nothing to hold, no funding in either direction, and nothing extra on liquidation. A deduction applies only when a position closes in profit: a settlement deadband of one basis point plus oracle confidence, and a haircut falling from 2% of profit on small moves to 0.1% on large ones. Table 3 lists every charge in full.
Q6What can I post as margin?+
Canton-native CIP-56 assets. CUSD at launch, with CBTC and CETH as collateral to follow. Margin is held as a real asset on Canton with an issuer and a redemption path — not as a balance in a database Levio controls.
Q7What is the Canton Network?+
A privacy-first blockchain built for regulated finance — a "network of networks" where institutions settle tokenized assets with sub-transaction privacy and atomic finality. It is where CBTC, CETH and Canton Coin already live, alongside things like BNP Paribas bond issuance and tokenized Treasury programmes. Levio settles there because the guarantees a bond desk needs turn out to be the same ones a 1000× position needs.
Q8Why build this on Canton instead of an L2?+
Three reasons, in order. Privacy: on a public chain a large leveraged position is a visible target with a computable liquidation price, and getting hunted is a real cost. Atomicity: collateral and position move in one transaction, closing the gap that bridged venues live inside. Collateral quality: the assets here have issuers and redemption paths rather than being wrapped by whoever got there first.
Q9Is my position visible to anyone?+
No. Canton's sub-transaction privacy means position data is shared with the parties to it and not published to the network. This is a property of the settlement layer rather than an obfuscation trick layered on top of a public ledger.
Q10Can Levio move the price against me?+
No. Marks come from independent oracle feeds, not from an internal book we control. If a feed goes stale past its cutoff the contract halts rather than settling on a number nobody can defend. A venue that can choose your mark can choose your liquidation, which is why we do not hold that pen.
Q11What happens when I am wrong?+
You lose the margin on that position. Nothing else is ever at risk — no negative balance, no claim on your remaining collateral, no clawback weeks later. Each position is isolated, so a liquidation on one contract leaves the others untouched.
Q12What do Vibes convert into?+
Season 01's conversion is published before the season opens, not improvised after it closes. Vibes accrue on notional you actually closed, multiplied by your leverage tier, and losing trades earn exactly like winning ones. There is no way to farm them without putting on a position — which is the entire design.
Q13Do I need a wallet to join the waitlist?+
No. The waitlist takes an email and nothing else — no wallet connection, no signature, no transaction to approve, no permissions granted. An X handle is optional and only used to recognise you if you are already talking to us.