Question 1

What is Bounce?

Accepted Answer

Bounce is a DeFi protocol built on Hyperliquid (HyperEVM), focusing on Leveraged Tokens (LTs). These ERC-20 tokens represent tokenized, auto-managed positions in perpetual futures, maintaining specific leverage (2x, 3x, or 5x) without margin management or liquidation risk. Available across multiple assets with new tokens added over time.

Question 2

What is BounceStats?

Accepted Answer

BounceStats is a community-run analytics dashboard for Bounce leveraged tokens on Hyperliquid. It tracks TVL, volume, open interest, trades, fees, PnL, and trader leaderboards. Built by gekko, who previously created TLXStats for the TLX protocol on Optimism/Synthetix.

Question 3

Is there liquidation risk on leveraged tokens?

Accepted Answer

Unlike standard perps and futures, Bounce leveraged tokens are designed to never be liquidated. They are automatically rebalanced to maintain target leverage. However, heavy adverse price moves can still cause significant losses, and the rebalancing mechanism relies on oracles.

Question 4

How does volatility decay affect leveraged tokens?

Accepted Answer

Volatility decay erodes leveraged token value over time in volatile markets. For example, a 5x LT can lose 25% even if the underlying asset only drops 1% after a volatile round trip. Higher leverage and higher volatility assets experience more decay. BounceStats offers a leverage comparison tool to visualize this effect.

Question 5

What assets and leverage levels are available on Bounce?

Accepted Answer

Bounce offers leveraged tokens across multiple assets, each with 2x, 3x, and 5x Long and Short variants. New assets are added over time. All use USDC as base collateral and can be minted or redeemed against the smart contract at any time.

Question 6

Where does BounceStats get its data?

Accepted Answer

BounceStats reads directly from the HyperEVM blockchain — trades from on-chain Transfer events, fees from SendFeesToTreasury events (exact USDC amounts), and TVL/exchange rates from Bounce smart contracts. It does not use the official Bounce API.

Frequently Asked Questions