Right now
What it would be
TSLA 2X would be a share of a vault on Robinhood Chain. The vault's USDG would go to a GEARS operator account on Lighter, as collateral for its TSLA perp position, worth about two times the vault's value. When TSLA moves 5%, the position moves about 10%, and so would TSLA 2X.
The keeper would hold leverage between 1.99x and 2.01x: past that, it trades the perp back to 2.00x, which on a moving day is more than once. It would never place an order that takes exposure past 2.05x.
TSLA 2X is the same daily 2x idea as TSLL. It is not that fund: it is a GEARS token on a perp, with its own keeper and its own costs, and its price will not match the fund's exactly.
As a pair it would work the way SOXL is built to: a coin launched with it would be priced in it and would pay its trade fee in it. How that works is in the docs.
When
After SOXL, and there is no date. Each pair needs its own vault, its own account on Lighter and its own launch factory, and its own first budget, the way SOXL does. A pair is open only when the product registry on Robinhood Chain shows it active with a fresh NAV, and this page says so only then.
Risks
Leverage cuts both ways
A 5% fall in TSLA would be about a 10% fall in TSLA 2X. Trading back to 2.00x after a fall keeps part of the loss, and back and forth moves cost a trade each time. Over many moves the result is not two times the stock's.
Perp, operator and venue
The position would sit in an operator account on Lighter, outside Robinhood Chain, and pay funding there. If the operator, the keeper or Lighter stops, the NAV goes stale and redemptions wait.
It may not open
Nothing on this page is a promise that TSLA 2X opens.
The full list is in the docs.
Addresses
TSLA 2X has no contracts.