Leverage tokens without decay.

No decay. No funding. No liquidations.Full leverage for as far as the pool's headroom reaches; past it, leverage compresses toward 1x, and it never liquidates.

Headroom is the further price rise the pool can back at full leverage. Leveraged funds rebalance every day, and in a volatile market the rebalancing erodes the position. A Decayless token does not rebalance: inside its headroom, a 2x token's value follows the square of the price. One fee on entry, one on exit; nothing while you hold. Its value can fall.

MSTR rose 15%. MSTU, which aims for twice its move each day, lost 84%. Most of that was the daily reset: with no fees or financing at all, a 2x that resets every day would still have lost 68%. That is decay.

Leveraged stocks, as tokens.

Stock tokens are ordinary ERC-20s now. Decayless is built for Ethereum and for Robinhood Chain: leverage tokens on stocks, without the daily reset. Stock tokens are available in eligible regions only.

No admin key can take the funds.

DCL is fixed at genesis and has no owner. The engine's code cannot be changed by anyone, from the day it is deployed. Until an engine is ossified, its keys can pause new entries at once and change the fee inside fixed bounds with three days' notice; exits stay open through all of it. Within a year each engine either ossifies, and has no admin key from then on, or winds down and everyone redeems.

The only thing that decays here is the supply.

Nothing mints after genesis. Half of every fee is auctioned for DCL, and half of every winning bid is burned. Supply only goes down. Details to come.