Perpetuals on the Canton Network
Levio is a perpetuals exchange on Canton. Trade BTC, ETH and CC with up to 1000× leverage — your liquidation price on screen before you open, nothing to pay unless you close in profit, and Vibes accruing on every position.
Illustration only · Levio is pre-launch · No live markets
Markets
BTC, ETH and CC all run the full range to 1000× — no tiering by asset, no quietly lower cap on the one you actually wanted. Each market settles against its Canton-native asset, so the thing backing your position is a real CIP-56 token rather than an exchange ledger entry.
The deepest book on Levio at launch. Priced off the same independent BTC feeds the rest of the market marks against.
Settles in CBTC — Bitcoin on Canton, issued by BitSafe
Second market at launch, same rails and same ceiling. Long or short with identical margin mechanics to BTC.
Settles in CETH — Ether on Canton, issued by onRails
The network's own asset, and the market that does not exist anywhere else at this leverage. Thinner book — size for it.
Settles in CC — Canton Coin, native to the network
Every CIP-56 asset is a listing candidate. Levio is built to add markets, not to stay at three.
Listing gated on book depth, not on appetite
Leverage
Leverage is not a slider with a warning sticker on it. It is an exact statement about how far price can move before your margin is gone — so Levio shows you that number on every rung, before you commit anything.
The dial runs 1× to 1000× on all three markets. Most positions should live in the low hundreds. The top of the range exists because that call belongs to you, not because we think you should take it.
Spot exposure, effectively. Price has to be cut in half twice before anything happens.
A normal bad day in crypto still leaves the position alive.
A two-percent move is now the whole trade. This is already the deep end at most venues.
Under one percent of room. The default the terminal opens on.
Ordinary intraday noise on BTC is wider than your liquidation band.
Nineteen basis points. A single thick print can end the position.
The ceiling. Under ten basis points of tolerance — spread alone can take you out. We are not going to pretend this is investing.
Fees
Nothing to open. Nothing to hold. No funding payments, no maker or taker schedule, no fee tier that quietly depends on how much volume you did last month.
When a position closes in profit, two deductions come out of the profit itself — never out of the margin you posted. Close flat or close down, and the only thing you have lost is the trade.
Covers the genuine uncertainty in the mark at the instant you settle, and nothing beyond it. It is not a spread we widen when it suits us.
Starts at 2% of profit on small moves and falls to 0.1% on large ones. The bigger the move you catch, the smaller our share of it — the incentive runs the right way round.
Close at a loss and you pay nothing beyond the margin you already posted.
Why Canton
Leverage this high only works if the settlement layer never argues. Canton was built for regulated institutions moving real assets — which turns out to be exactly what a 1000× position needs underneath it.
Privacy
Canton gives sub-transaction privacy by default: counterparties see what they need to and nobody else sees anything. On a public chain a large position at high leverage is a visible target with a known liquidation price. Here it simply is not on display.
Atomicity
Collateral movement and position change settle atomically. There is no window in which your margin has left your control but your position has not yet arrived — the state that quietly eats accounts on bridged and multi-step venues.
Collateral
The same network carrying BNP Paribas bond issuance and tokenized Treasury programmes. Your margin is a real CIP-56 asset with an issuer and a redemption path, not an IOU that exists only inside one exchange's database.
Composability
Positions and collateral speak the network's own token standard, so they move between wallets and venues across the ecosystem. Nothing about Levio is designed to make leaving expensive.
Vibes
Once in CUSD. Once in Vibes. Win or lose — Vibes are earned for trading, because trading is the only thing this exchange does. No quests, no daily check-ins, no referral grind, no social tasks, no points for connecting an account you already own.
Risk
At 1000× the question was never whether a position gets liquidated. It is what happens to everything else when it does.
Most accounts trading at the top of this range lose money. That is not a disclaimer we are hiding in the footer — it is the single most important thing on this page.
Straight answers
If something you need is missing here, it is an omission rather than a decision — say so and it gets added.
BTC, ETH and CC, each up to 1000×. There is no per-asset tiering — the market you want is not quietly capped lower than the one on the poster. Each settles against its Canton-native asset: BTC via CBTC, ETH via CETH, and CC natively. More markets follow as CIP-56 assets arrive, gated on book depth rather than on demand.
Waitlist first, then a closed testnet on Canton, then mainnet. The list is how you get into the closed phase — and everyone on it at launch starts Season 01 with a Vibes multiplier above the base rate. We will email once when testnet opens; there is no drip sequence.
At the very top of the range, rarely — and we will not pretend otherwise. Under ten basis points of tolerance means ordinary spread can take you out before the trade has an opinion. The ceiling is 1000× because that choice should be yours to make rather than ours to impose, and because your liquidation band is on screen before you take it. The terminal opens at 100× for a reason.
From your margin and the market's maintenance buffer, at the moment you open. The distance is approximately 0.95 ÷ leverage as a percentage of entry — so 100× gives you about 0.95% of room and 1000× gives you about 0.095%. It is shown as both a percentage and a band on the ticket before you commit, and it does not move afterwards unless you add margin.
Nothing to open, nothing to hold, and no funding payments in either direction. A deduction applies only when a position closes in profit: a settlement deadband of one basis point plus oracle confidence, and a haircut that falls from 2% of profit on small moves to 0.1% on large ones. Close flat or at a loss and you pay nothing beyond the margin you posted.
Canton-native CIP-56 assets. CUSD at launch, with CBTC and CETH as collateral to follow. Margin is held as a real asset on Canton with an issuer and a redemption path — not as a balance in a database Levio controls.
A privacy-first blockchain built for regulated finance — a "network of networks" where institutions settle tokenized assets with sub-transaction privacy and atomic finality. It is where CBTC, CETH and Canton Coin already live, alongside things like BNP Paribas bond issuance and tokenized Treasury programmes. Levio settles there because the guarantees a bond desk needs turn out to be the same ones a 1000× position needs.
Three reasons, in order. Privacy: on a public chain a large leveraged position is a visible target with a computable liquidation price, and getting hunted is a real cost. Atomicity: collateral and position move in one transaction, closing the gap that bridged venues live inside. Collateral quality: the assets here have issuers and redemption paths rather than being wrapped by whoever got there first.
No. Canton's sub-transaction privacy means position data is shared with the parties to it and not published to the network. This is a property of the settlement layer rather than an obfuscation trick layered on top of a public ledger.
No. Marks come from independent oracle feeds, not from an internal book we control. If a feed goes stale past its cutoff the market halts rather than settling on a number nobody can defend. A venue that can choose your mark can choose your liquidation, which is why we do not hold that pen.
You lose the margin on that position. Nothing else is ever at risk — no negative balance, no claim on your remaining collateral, no clawback weeks later. Each position is isolated, so a liquidation on one market leaves the others untouched.
Season 01's conversion is published before the season opens, not improvised after it closes. Vibes accrue on notional you actually closed, multiplied by your leverage tier, and losing trades earn exactly like winning ones. There is no way to farm them without putting on a position — which is the entire design.
No. The waitlist takes an email and nothing else — no wallet connection, no signature, no transaction to approve, no permissions granted. An X handle is optional and only used to recognise you if you are already talking to us.
Pre-launch
Waitlist members get into the closed Canton testnet first and start Season 01 above the base Vibes rate. One email. No wallet connection, no signature, nothing to approve.
Season 01 multiplier locked for everyone on the list at launch