NVDA turns once. NVDA2X turns twice.

GEARS

Your stocks,in second gear.

2x NVDA first, hedged on Lighter perps. On Robinhood Chain.

LaterMSFTAAPLAMZNGOOGL

NVDA, last 8 days−1.60%at 2x −3.21%

NVDA moves 5%. NVDA2X moves 10%. Hedged on Lighter.

See how 2x works

$GEARS is the token. A share of its trading fee funds each 2x stock.

Not live $GEARS launches first on Pons. NVDA 2X opens from its fees.

Every launch isa stockat 2x.

NVDA 2X goes first. TSLA 2X and META 2X come later. Pick one and the line below draws its real week.

Launch 01Not liveNVDA 2X

NVDA $230.63

NVDA2X is built to hold $2 of NVDA exposure for every $1 you hold, hedged on Lighter perps.

The first launch. It opens from $GEARS fees.

LaterTSLA 2X

TSLA $382.48

TSLA 2X is for later. Nothing trades it yet.

It would hold $2 of TSLA exposure for every $1, the same way.

LaterMETA 2X

META $719.37

META 2X is for later. Nothing trades it yet.

It would hold $2 of META exposure for every $1, the same way.

MSFTAAPLAMZNGOOGL

Later, with R, the reverse gear. They are catalog names, not products. Nothing on this site trades them.

One turn in.Two turnsout.

The big gear is NVDA. The small gear is NVDA2X: half the teeth, so it turns twice as far.

2.00x: $2 of NVDA exposure for every $1 of NVDA2X.

The line is the leverage. The keeper holds it between 1.99x and 2.01x on Lighter.

If NVDA rises 5%, NVDA2X rises about 10%.

Left alone, leverage would ease to 1.91x. The keeper trades it back to 2.00x long before that.

If NVDA falls 5%, NVDA2X falls about 10%.

Left alone, leverage would lean to 2.11x. The keeper trades it back to 2.00x long before that.

A real weekin secondgear.

Every hour NVDA traded, Sat 3 Oct to Sun 11 Oct, read from the Lighter NVDA perp and drawn at 2x. Each tooth is where the keeper shifts back.

NVDA $234.39 at 2.00x.

Sat 3 Oct 03:00 UTC: the week starts in second gear.

$229.44, down 2.11%.

Fri 9 Oct 15:00 UTC: still held near 2.00x.

$242.47, up 3.45%.

Tue 6 Oct 14:00 UTC: still held near 2.00x.

NVDA −1.60% on the week, NVDA2X about −3.21%.

Sun 11 Oct 10:00 UTC: the last read. 21 shifts back at hourly closes. Before funding and trading costs on Lighter.

Off 2.00x,it shiftsback.

Between 1.99x and 2.01x, nothing trades. Past that, the keeper trades the Lighter perp back to 2.00x.

If NVDA falls 0.5%, NVDA2X falls 1.0% and leverage reaches 2.01x.

That is the edge of the band.

Past 2.01x, the keeper shifts back to 2.00x.

It trades the NVDA perp on Lighter. The vault pays the trading fee and the slippage.

Past2.05x,it only shifts down.

The redline is the exposure cap. The keeper never places an order that would take NVDA2X past it.

If NVDA falls 2.4% before the keeper's next trade, leverage reaches the 2.05x redline.

That drop starts from 2.00x with no trade in between.

At 2.05x, the keeper's only move is down.

Orders that cut exposure always go through. Orders that add it stop at the cap.

Each $GEARS trade on Ponsturns thegearbox.

$GEARS

A share of the $GEARS trading fee funds each 2x stock.

The creator tax on every $GEARS trade goes to the gearbox treasury. A share of it funds NVDA 2X: its vault, its pool and its first position on Lighter.

Secondgearis in.

NVDA 2X goes first. TSLA 2X and META 2X wait in the same box.

1
USDGThe input: dollars on Robinhood Chain.
2
NVDA2XTwo dollars of NVDA exposure for every dollar you hold. NVDA 2X engages first, from $GEARS fees.
R
Reverse gearA short NVDA launch. Later.

Sell inthe pool.Or redeem at NAV.

NVDA 2X has no NAV on chain yet. Its first report comes with its first position on Lighter.

Three reporter keys sign each NAV from the Lighter account; the vault accepts it with two of three. The same operator runs all three keys.

Open NVDA 2X