tl;dr
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We welcome LeverUp, a perpetual trading platform with up to 1001x leverage, to PancakeSwap’s first ever CAKE.PAD event on Monad
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All users with $CAKE in their wallets are eligible for the CAKE.PAD
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A tiered participation fee will be applied for the CAKE.PAD event
What is LeverUp?
LeverUp is a next-generation perpetual trading platform built on Monad — a fully LP-free perps DEX offering up to 1001x leverage, zero fees* on losses, and 100% of protocol fees returned to stakeholders.
Built for traders and stakers, LeverUp eliminates traditional LP incentives and creates a clean, frictionless incentive loop where all value generated by the protocol flows back to the users who trade.
*Zero-fee perpetuals only apply to positions with 500x leverage and above
What is $LV, $xLV, and $yLV?
At the core of LeverUp is a tri-token ecosystem – $LV, $xLV, and $yLV, engineered to maintain sustainable incentive alignment. $LV is used to reward traders, $xLV represents staked LV and unlocks protocol fee distribution, while $yLV is a liquid wrapped version of xLV that is also backed by protocol fees. This unified structure integrates perpetual trading, staking, and revenue distribution into one self-reinforcing system, strengthening long-term alignment across all stakeholders.
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LV:
- Liquid native token that is earned by trading on the platform and referring other users
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xLV:
- Users can stake LV to get xLV, which can then be staked to earn protocol fees in LVUSD or LVMON every epoch
- To exit xLV positions, users must pay a 50% penalty, which will be redistributed proportionally to the remaining xLV stakers
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yLV:
- Users can convert xLV to yLV, which is a liquid wrapped version of xLV that can be sold on secondary markets
- yLV also earns protocol fees in the form of xLV being added to the yLV vault every epoch (each yLV can then be converted to more xLV after each epoch)
- The proportion of protocol fees distributed to xLV stakers and yLV vault depends on the amount of staked xLV versus the amount of xLV in the yLV vault
LV Token Distribution
LV’s tokenomics will be shared closer to the CAKE.PAD event date
CAKE.PAD Event Details
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Chain: Monad
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Start date: 17 Dec 2025 0300 UTC
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End date: 18 Dec 2025 0300 UTC
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Amount to be raised: USD $100,000 in CAKE tokens
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CAKE.PAD tokens: 10,000,000 LV (1% of LV’s total supply)
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Price per token: 1 LV = $0.01 USD
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Fully Diluted Valuation: $10,000,000
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Token vesting schedule: 100% unlock at TGE
All CAKE raised from the LV CAKE.PAD event will be given to the CAKE.PAD project
Method: CAKE.PAD event will be conducted via the Overflow method
What is the “Overflow” method?
In the “Overflow” method, users can commit as much funds as they want to the CAKE.PAD event, and their final allocation will be based on the proportion of their committed funds versus the total pool of committed funds when the CAKE.PAD event ends. Users will get back any leftover funds when they claim their tokens after the CAKE.PAD event, minus any fees.
To participate in the CAKE.PAD:
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Before the CAKE.PAD event:
- Prepare CAKE tokens on Monad by:
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Buying CAKE on Monad PancakeSwap
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Or bridging CAKE from BNB Chain to Monad
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(Both features are not currently available as of 9 Dec 2025, will be live soon)
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- Prepare CAKE tokens on Monad by:
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During the CAKE.PAD event
- While the event is live, deposit your CAKE to receive CAKE.PAD partner tokens at https://pancakeswap.finance/cakepad
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After the CAKE.PAD event
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When the event is complete, claim your CAKE.PAD partner tokens.
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In the case of an overflow, claim your unused CAKE tokens (minus participation fee).
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If the CAKE.PAD event has token vesting, return throughout the vesting period to claim released tokens until the end of the vesting schedule.
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Participation Fee
In the CAKE.PAD event, a Tiered Tax applies as part of the participation fee.
This participation fee is triggered when the CAKE.PAD is oversubscribed. The fee is deducted only from participants’ excess committed funds and will be 100% burned after the CAKE.PAD event. As a result, generally the higher the oversubscription, the more CAKE tokens will be burned through the participation fee.
Please make sure to do your own calculations and only commit an amount you’re comfortable with. If a fee tier is applied, it will increase the cost basis when receiving the project tokens.
| Oversubscription Rate | Fee Tier |
|---|---|
| >= 0x | 1.00% |
| >= 50x | 0.80% |
| >= 100x | 0.60% |
| >= 150x | 0.50% |
| >= 200x | 0.40% |
| >= 250x | 0.30% |
| >= 300x | 0.25% |
| >= 400x | 0.2% |
| >= 500x | 0.15% |
| >= 650x | 0.12% |
| >= 800x | 0.1% |
| >= 1000x | 0.080% |
| >= 1250x | 0.065% |
| >= 1500x | 0.055% |
| >= 1800x | 0.045% |
| >= 2200x | 0.037% |
| >= 2700x | 0.030% |
| >= 3300x | 0.025% |
| >= 4000x | 0.020% |
| >= 5000x | 0.017% |
To learn more, visit the project’s official channels:
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Website: https://app.leverup.xyz/
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Twitter: https://x.com/LeverUp_xyz
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Telegram: https://t.me/leverup_comm
BEWARE OF ONCHAIN DANGER
LV’s token address will be announced on our socials in the coming days. It is not currently deployed yet.
Always verify the token address before buying tokens. Any other LV token will be a scam and will result in financial loss.
Disclaimer - All projects are subject to high market risk and volatility. Please do your own research and interact with caution. PancakeSwap will not be held responsible for any losses.