dUS100

Demo on a mainnet fork: the real Upside program, the real Voltr and Phoenix programs, live Phoenix prices; only the USDC is test money. Balances above are read from the fork. What that means

Recommended: Backpack or Solflare with the wallet's custom RPC set to https://rpc.upside.cx, so your wallet shows fork balances and simulates correctly. Phantom works for signing but displays mainnet balances and warns that the transaction may fail; approve anyway.

Minting dUS100 now is a 3x short position on US Tech 100 at the current mark of $705.44, at the token price (0.9993 USDC per token). The keeper keeps the leverage inside its band; you never post margin and are never liquidated. How it works

Before you hold this

Leverage tokens aim to track 3x the price move in the short term. Over longer holds, volatility decay can reduce your returns. These instruments suit short-term trades better than long-term holds.

Over the last year, a 30-day hold of 3x US Tech 100 short did on average −0.77% vs 3× the stock; the worst tenth of holds trailed by 5.2%; 1 in 45 holders lost more than half.

Over 24h: −0.03% on average, worst tenth −0.23% · over 7 days: −0.26%, worst tenth −1.1%.

Decay is a cost of choppy markets: it disappears in a steady trend and bites when prices swing past the rebalance band.

See what holding dUS100 for 30 days would have looked like →

Measured as (token return − 3× the US Tech 100 move) per window, averaged over every start date from 2025-09-11 to 2026-09-11 (45 30-day windows); "worst tenth" is the 10th percentile. Backtest with a modelled keeper, fees per D8, funding 0; not the live token.

Token price vs US Tech 100

1D 1W 1M ALL

dUS100 NAVUS Tech 100 markboth rebased to 100 at range start

Keeper snapshots, 1h buckets.

Cost of holding

Simulate any window

Over the last year, a hold of 3x US Tech 100 short did this against 3× the stock, on average and in the worst tenth of start dates.

Hold	On average	Worst tenth	Lost more than half
24 hours	−0.03%	−0.23%	none
7 days	−0.26%	−1.1%	none
30 days	−0.77%	−5.2%	1 in 45 holders

Decay is a cost of choppy markets: it disappears in a steady trend and bites when prices swing past the rebalance band. Backtest with a modelled keeper, fees per D8, funding 0; not the live token.

Replay any hold

Pick a start date and a length; the simulator replays US Tech 100's daily history under this keeper and fees, then rolls the same hold across every start date so the range of outcomes is visible.

Simulate a 30-day hold

Since launch

Launches at 1.00 USDC per token. The token price is now 0.9993 USDC. There are no reverse splits: the price drifts away from 1.00 in both directions over time. Why leveraged tokens decay

$0.9993per dUS100

— 24h

cranked 10 s ago· priced from Phoenix QQQ mark $705.37 (index $705.44)

Phoenix mark

$705.37

index $705.44

24h

—

Realised leverage

2.87x

target 3x

TVL

$4,996.54

cap left $245.0K

Pool vs NAV

—

no pool yet

Equity / notional

18.3%

floor 12.5%

Funding

—

no reading

Vault	On-chain now	Keeper snapshot · 10 s ago
Total assets	—	4,996.54
LP supply	—	5,000.0000
Token price	—	0.9993
Idle USDC	—	2,375.00
Cap remaining	—	245,003.46

On-chain read pending or unavailable from the site's RPC; the keeper snapshot is shown.

Leverage 2.87xband 2.7–3.3x · hard delever 4x

2.87x

2.70x3.00x3.30x4.00x

Margin 18.3% of notionalfloor 12.5% · target 17.5% · ceiling 22.5%

18.3%

12.5%17.5%22.5%12.5%

Position

slot 447279672 · snapshot 10 s ago

Collateral at Phoenix

2,619.98 USDC

Unrealised PnL

+7.46 USDC

Notional

14,335 USDC

Idle in vault

2,375.00 USDC

from the snapshot

Equity / notional

18.3%

Realised leverage

2.869x

Mark

$705.37

Position

-20,322 lots

Stop price

—

Phoenix trader accountFtbKX1…mESPVa ↗

Voltr vault6AzhYL…7nR8QZ ↗

Strategy (adaptor)95i7Eh…ESAzSm ↗

Strategy authorityBKRerF…UvySnK ↗

LP mint8R6hjk…wgLFtL ↗

Secondary poolnot created

Recent activity

Full log

15 Sep 15:06 UTCCrank
15 Sep 15:05 UTCCrank2.87x → —
15 Sep 15:05 UTCCrank2.87x → —
15 Sep 15:05 UTCHarvest fee2.87x → —
15 Sep 15:05 UTCCrank2.87x → —
15 Sep 15:05 UTCCrank
15 Sep 15:04 UTCCrank
15 Sep 15:03 UTCCrank
15 Sep 15:02 UTCCrank
15 Sep 15:01 UTCCrank

Keepers

keeper-stagingv0.1.0 · surfpool#0 · heartbeat 1 s ago
stream ✓dGOLD:band ✓dGOLD:stop ✓dGOLD:tick ✗ 1dMSTR:band ✓dMSTR:stop ✓dMSTR:tick ✓uGOLD:band ✓uGOLD:stop ✓uGOLD:tick ✗ 1uMSTR:band ✓uMSTR:stop ✓uMSTR:tick ✓dGOLD:crank ✓dGOLD:guard ✓dMSTR:crank ✗ 3dMSTR:guard ✓dUS100:band ✓dUS100:stop ✓dUS100:tick ✓dUS500:band ✓dUS500:stop ✓dUS500:tick ✓uGOLD:crank ✓uGOLD:guard ✓uMSTR:crank ✗ 3uMSTR:guard ✓uUS100:band ✓uUS100:stop ✓uUS100:tick ✓uUS500:band ✓uUS500:stop ✓uUS500:tick ✓dGOLD:inflow ✓dGOLD:margin ✓dGOLD:redeem ✓dMSTR:inflow ✓dMSTR:margin ✓dMSTR:redeem ✓dUS100:crank ✗ 3dUS100:guard ✓dUS500:crank ✗ 3dUS500:guard ✓dWTIOIL:band ✓dWTIOIL:stop ✓dWTIOIL:tick ✓uGOLD:inflow ✓uGOLD:margin ✓uGOLD:redeem ✓uMSTR:inflow ✓uMSTR:margin ✓uMSTR:redeem ✓uUS100:crank ✗ 3uUS100:guard ✓uUS500:crank ✗ 3uUS500:guard ✓uWTIOIL:band ✓uWTIOIL:stop ✓uWTIOIL:tick ✓dGOLD:harvest ✓dMSTR:harvest ✗ 1dUS100:inflow ✓dUS100:margin ✓dUS100:redeem ✓dUS500:inflow ✓dUS500:margin ✓dUS500:redeem ✓dWTIOIL:crank ✗ 3dWTIOIL:guard ✓uGOLD:harvest ✓uMSTR:harvest ✗ 1uUS100:inflow ✓uUS100:margin ✓uUS100:redeem ✓uUS500:inflow ✓uUS500:margin ✓uUS500:redeem ✓uWTIOIL:crank ✗ 3uWTIOIL:guard ✓dUS100:harvest ✗ 1dUS500:harvest ✗ 1dWTIOIL:inflow ✓dWTIOIL:margin ✓dWTIOIL:redeem ✓uUS100:harvest ✗ 1uUS500:harvest ✗ 1uWTIOIL:inflow ✓uWTIOIL:margin ✓uWTIOIL:redeem ✓dWTIOIL:harvest ✗ 1uWTIOIL:harvest ✗ 1

Open alerts

warning
CRANK_STALE · dUS10015 Sep 14:58 UTC
dUS100: last crank never during an external session
warning
TICK_FAILED · dUS10015 Sep 14:42 UTC
dUS100: tick failed: fetch failed

The full transparency page has the action ladder (at what underlying move each keeper action fires), leverage and margin over the last 7 days with every action marked, and the complete event log.

Open the action ladder and charts

What this token is

Name: US Tech 100 3x Short
Underlying: US Tech 100 (index)
Venue market: Phoenix QQQ
Direction: 3x short (inverse daily return)
Rebalance band: 2.7x–3.3x, hard delever 4.0x
Venue equity: 17.5% of notional (12.5–22.5%)
Vault cap: $250.0K USDC
Inception: not launched · 1.00 at launch
Status: Live
Cluster: surfpool

Risk grade 2.5x: Too volatile for 3x; it swings 23% a year against the S&P's 19%. The listing leverage is 3x per D26. How we choose leverage

Addresses

Voltr vault: 6AzhYL…7nR8QZ ↗
Strategy (adaptor): 95i7Eh…ESAzSm ↗
Strategy authority: BKRerF…UvySnK ↗
Phoenix trader account: FtbKX1…mESPVa ↗
LP mint: 8R6hjk…wgLFtL ↗
Secondary pool: not created

Fees

Issuance: 0.05%
Redemption: 0.05%
Management: 1.00% / yr
Performance: 0%

Issuance and redemption fees cover the position change your mint or redeem forces on the venue. Funding and rebalancing costs are inside the token price, not charged separately.

Token price vs US Tech 100

Cost of holding

Replay any hold

Since launch

Position

Recent activity

Keepers

Open alerts

What this token is

Addresses

Fees

Read more