Update on 2022-11-16
Token Symbol: FOOTBALL3L
Football Fan Token Index (FOOTBALL) is a cryptocurrency price index that tracks the market performance of certain football club Fan Tokens listed on the Binance Spot market.
FOOTBALL3L is a leveraged token that goes long on FOOTBALL with 3x leverage, which means that for every increase in the price of FOOTBALL in the market, the leveraged FOOTBALL token seeks a 3x increase in its price. FOOTBALL3L is required to maintain its target leverage and does so through dynamic rebalancing to gain a net value increase by 3% when the price of FOOTBALL goes up by 1%.
Due to such rebalancing and investment costs, FOOTBALL3L may suffer a net value loss when the market fluctuates. Please note, AscendEX’s leveraged tokens are not suitable for long-term investment. Investors must be cautious while investing in leveraged tokens and manage their investment risks in a timely manner.
Leveraged tokens differ from regular tokens for spot trading in that there is higher risk and volatility, which could bring about great returns or losses in a single day. Please learn more about leveraged tokens in our help center before making an investment.
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