Level Finance

PancakeSwap

Token

Monad

<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-defi-comprehensive-platform-guide">PancakeSwap</a> has&nbsp;<a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cakepad-leverup">announced</a> LeverUp as the newest project to launch through&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-cakepad">CAKE.PAD</a>. The platform gives CAKE holders early access to the LeverUp token sale and confirms that the launch will take place on&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/monad-layer1-blockchain">Monad</a>, a high performance&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/ethereum-virtual-machine-evm-explained">EVM</a> compatible blockchain.&nbsp;
<div>
 <blockquote class="twitter-tweet">
 New CAKE.PAD: LeverUp (<a href="https://twitter.com/LeverUp_xyz?ref_src=twsrc%5Etfw">@LeverUp_xyz</a>), an LP-free perpetuals exchange offering uncapped open interest, 100% fee redistribution to traders, and leverage up to 1001x 🆙 
 🍰 <a href="https://t.co/SXIhhGisqc">https://t.co/SXIhhGisqc</a> 
 🗓️ Dec 17, 3 AM UTC – Dec 18, 3 AM UTC 
 More details → <a href="https://t.co/7SmPGlc3Te">https://t.co/7SmPGlc3Te</a> <a href="https://t.co/SmygrMt64t">pic.twitter.com/SmygrMt64t</a>— PancakeSwap (@PancakeSwap) <a href="https://twitter.com/PancakeSwap/status/1998366414084980790?ref_src=twsrc%5Etfw">December 9, 2025</a>
 </blockquote>
</div>
LeverUp is a perpetual trading platform built for high leverage, low settlement times, and a unique tri token model built around LV, xLV, and yLV.&nbsp;
<h2 dir="ltr" id="span-span-strong-what-is-leverup-and-how-does-it-work-strong-span-span">What Is LeverUp and How Does It Work?</h2>
LeverUp is a perpetual trading platform built on Monad. Monad can reportedly process up to 10,000 transactions per second and uses a familiar EVM environment, which allows developers and users to move between chains without learning new tools. LeverUp removes the need for liquidity providers and operates as a fully LP free perps exchange.
The platform offers up to 1001x leverage and charges zero fees on loss making positions above 500x leverage. All protocol fees go back to stakeholders, which means traders and stakers are the direct recipients of the platform’s revenue flow. This structure is different from most perps systems, which usually rely on a mix of LP incentives, emissions, and separate fee schedules.
At the center of LeverUp is a tri token system designed to support incentives and revenue distribution. Many decentralized exchanges use single or dual token setups, but LeverUp uses three tokens that each have a specific role.
<h3 dir="ltr" id="span-span-strong-understanding-the-lv-xlv-and-ylv-token-structure-strong-span-span">Understanding the LV, xLV, and yLV Token Structure</h3>
The LeverUp token model includes:
<ul>
 <li>LV: This is the core token. It is used to reward traders who participate on the platform.</li>
 <li>xLV: This is staked LV. It unlocks access to protocol fee distribution and represents a user’s stake in the system.</li>
 <li>yLV: This is a liquid wrapped version of xLV. It is backed by protocol fees and can be used actively across the system.</li>
</ul>
The purpose of this design is to maintain alignment between traders and stakers. It links trading volume, fee generation, and long term participation into one structure.
Users who take part in trading or staking feed value back into the same ecosystem, which helps create stable incentives.
<h2 dir="ltr" id="span-span-strong-cake-pad-event-details-strong-span-span">CAKE.PAD Event Details</h2>
PancakeSwap will run the LeverUp token launch through CAKE.PAD between 17 December 2025 at 0300 UTC and 18 December 2025 at 0300 UTC. The event will take place on Monad, and CAKE will be the accepted token for entry. This is PancakeSwap’s first CAKE.PAD launch on the Monad network.
The LeverUp token has a maximum supply of 1,000,000,000 LV. CAKE.PAD participants will have access to 10,000,000 LV, which is 1% of the total supply. The event targets a raise of 100,000 dollars worth of CAKE at a token price of 0.01 dollars. Tokens unlock immediately because there is no vesting period. Users will receive one hundred percent of their subscribed tokens after the event.
PancakeSwap will run the event through the Overflow method.
<h3 dir="ltr" id="span-span-strong-how-does-the-overflow-method-work-strong-span-span">How Does the Overflow Method Work?</h3>
The Overflow method allows users to deposit as much CAKE as they want during the event window. When the event ends, the system calculates each user’s share relative to the total amount committed. If the event receives more CAKE than the target raise, users receive their portion of leftover CAKE after a tiered subscription fee is applied.
This method aims to avoid rush ordering and allows users to participate without competing for limited slots. It has been used in previous PancakeSwap launches, including token sales for smaller DeFi projects on BNB Smart Chain.
Participation does not require staking or lockups. Any user can join by following a simple flow.
<h3 dir="ltr" id="span-span-strong-steps-to-join-the-leverup-cake-pad-event-strong-span-span">Steps to Join the LeverUp CAKE.PAD Event</h3>
<ul>
 <li>Hold CAKE in a non custodial wallet such as MetaMask or Trust Wallet</li>
 <li>Visit the CAKE.PAD page during the event window</li>
 <li>Commit CAKE to subscribe to the launch</li>
 <li>After the event ends, claim your LV and any unused CAKE</li>
</ul>
All CAKE raised from the event goes to the CAKE.PAD project.
<h2 dir="ltr" id="span-span-strong-why-pancakeswap-s-expansion-on-monad-matters-strong-span-span">Why PancakeSwap’s Expansion on Monad Matters</h2>
PancakeSwap&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/pancakeswap-monad-mainnet">recently went live</a> on the Monad Mainnet. This expansion gives users access to v2 and v3 liquidity, faster execution, and lower gas use. Monad supports sub second finality, and its EVM compatible environment makes it suitable for large scale decentralized finance activity.
In practice, the deployment connects one of the largest decentralized exchanges with a new high performance layer 1. Users gain familiar tooling with higher throughput than many existing chains.
Before the launch, Monad users did not have access to PancakeSwap liquidity pools. The new integration now brings both v2 and v3 pools to the network.
<h2 dir="ltr" id="span-span-strong-how-does-pancakeswap-liquidity-work-on-monad-strong-span-span">How Does PancakeSwap Liquidity Work on Monad?</h2>
PancakeSwap supports two types of liquidity models. These models are widely used across other chains, including&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/what-is-ethereum-eth-how-it-works-explained">Ethereum</a>,&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/arbitrum-ethereum-layer-2-analysis">Arbitrum</a>, and&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/optimism-ethereum-layer-2-superchain">Optimism</a>.
v2 liquidity pools offer a simple design, while v3 pools offer concentrated control and allow advanced liquidity providers to choose price ranges.
<h3 dir="ltr" id="span-span-strong-v2-liquidity-for-simple-and-predictable-use-strong-span-span">v2 Liquidity for Simple and Predictable Use</h3>
v2 uses a constant product model. Users deposit a pair of tokens and earn a share of fees at a fixed rate of 0.25 percent. Liquidity remains active across all price levels. This model is suitable for users who prefer a set and forget approach where they do not need to adjust price ranges.
<h3 dir="ltr" id="span-span-strong-v3-liquidity-for-active-management-strong-span-span">v3 Liquidity for Active Management</h3>
v3 introduces concentrated liquidity. Users can choose a price range where they want to provide liquidity. If trading activity stays inside that range, they earn higher fees because their capital is used more efficiently. Fee tiers can go as low as 0.01 percent.
Many liquidity providers on other EVM chains have used this model to adjust ranges based on market activity. It requires active management but can offer better returns for users who follow price movements closely.
<h2 dir="ltr" id="span-span-strong-what-traders-gain-from-pancakeswap-on-monad-strong-span-span">What Traders Gain From PancakeSwap on Monad</h2>
The Monad version of PancakeSwap focuses on fast execution. Finality often completes in about one second. This helps prevent failed trades and supports stable slippage even during high volume periods.
Key features for traders include:
<ul>
 <li>Fee tiers as low as 0.01%</li>
 <li>Universal Router that searches both v2 and v3 pools for the best route</li>
 <li>Low gas use</li>
 <li>More stable fills during volatile price movement</li>
</ul>
Users who want to trade on Monad will need assets on the chain. Monad’s official bridge supports deposits from other networks and works in a similar way to most EVM bridges.
<h2 dir="ltr" id="span-span-strong-real-world-context-for-perpetual-exchanges-strong-span-span">Real World Context for Perpetual Exchanges</h2>
Perpetual trading platforms have grown across many blockchains. Examples include GMX on Arbitrum, Drift on Solana, and Level Finance on BNB Smart Chain. Each platform uses its own approach to liquidity, leverage, and fee distribution.
LeverUp takes a different route. Its LP free model removes liquidity provider incentives and directs all protocol value back to traders and stakers. This structure is uncommon but has been tested in smaller systems where user activity is the main driver of revenue instead of external LP supply.
<h2 dir="ltr" id="span-span-strong-conclusion-strong-span-span">Conclusion</h2>
PancakeSwap’s decision to launch LeverUp through CAKE.PAD expands its presence on Monad and introduces a new perpetual trading platform built around high leverage, fast settlement, and a tri token model. The CAKE.PAD event gives users a chance to participate with clear terms, including no vesting and proportional allocation through the Overflow method.&nbsp;
PancakeSwap’s deployment on Monad also strengthens its liquidity tools and provides users with faster execution and lower gas use. Together, these updates expand PancakeSwap’s multichain reach while giving traders and liquidity providers more options.
<h2 dir="ltr" id="span-span-resources-span-span">Resources</h2>
<ol>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cakepad-leverup">PancakeSwap announcement</a>: Introducing LeverUp on CAKE.PAD: Trader-Centric Perps Trading Built on Monad</li>
 <li>
 <a style="text-decoration:none" href="https://x.com/PancakeSwap">PancakeSwap on X</a>: Announcement (December 9, 2025)</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/cake-pad">CAKE.PAD announcement by PancakeSwap</a>: Introducing CAKE.PAD (Formerly IFO): Simplifying Early Token Access Events with CAKE</li>
 <li>
 <a style="text-decoration:none" href="https://blog.pancakeswap.finance/articles/bridge-to-monad">PancakeSwap announcement</a>: Step-By-Step Guide: Bridge to Monad</li>
 <li>
 <a style="text-decoration:none" href="https://www.coindesk.com/tech/2025/11/24/monad-blockchain-goes-live-with-100b-token-supply-and-airdrop">CoinDesk report</a>: Monad Blockchain Goes Live With 100B Token Supply and Airdrop</li>
</ol>

PancakeSwap Names LeverUp as the Next CAKEPAD Launch on Monad

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