AscendEX, a full-stack cryptocurrency exchange platform, has informed completing the addition of 7 new leveraged tokens for trading: OP, SOL, FTM, SHIB, ATOM, SAND, and PEOPLE.
Check below for details of the new tokens:
| Leveraged Token | 3X Leverage Long | 5X Leverage Long | 3X Leverage Short | 5X Leverage Short |
| OP | OP3L/USDT | – | OP3S/USDT | – |
| SOL | SOL3L/USDT | SOL5L/USDT | SOL3S/USDT | SOL5S/USDT |
| FTM | FTM3L/USDT | FTM5L/USDT | FTM3S/USDT | FTM5S/USDT |
| SHIB | SHIB3L/USDT | SHIB5L/USDT | SHIB3S/USDT | SHIB5S/USDT |
| ATOM | ATOM3L/USDT | ATOM5L/USDT | ATOM3S/USDT | ATOM5S/USDT |
| SAND | SAND3L/USDT | SAND5L/USDT | SAND3S/USDT | SAND5S/USDT |
| PEOPLE | PEOPLE3L/USDT | PEOPLE5L/USDT | PEOPLE3S/USDT | PEOPLE5S/USDT |
Leveraged tokens offer traders increased exposure to an underlying asset. Leveraged tokens aim to amplify the returns of the underlying asset at a higher ratio such as 2:1, 5:1, etc.
For example, if the asset price increases by 1%, the 2x (2:1) leveraged token would increase by 2%.
Source: https://www.cryptoninjas.net/2022/06/03/crypto-exchange-ascendex-adds-new-leveraged-tokens-op-sol-ftm-shib-atom-sand-people/