UB3L is a Gate ETF Leveraged Token that tracks UB (Unibase) with 3x long exposure. It was listed on Gate on April 24, 2026 with an initial NAV of 1 USDT.Here's what you need to know:What UB3L does:•It's a 3x leveraged long token — if UB's price goes up 1%, UB3L's NAV aims to increase by 3%•It's traded like a spot asset (no margin required, no liquidation risk)•Underlying positions are managed via UBUSDT perpetual contractsKey details:•Daily management fee: 0.1% of NAV (covers contract trading costs, funding rates, etc.)•The fund manager rebalances positions daily (and intraday if large moves occur) to maintain the 3x leverage target•Initial NAV: 1 USDTImportant risks:•Due to the rebalancing mechanism, cumulative returns over multiple days may not simply equal 3× the spot price change — this is known as "capital wear" or volatility decay•In fluctuating/choppy markets, UB3L can lose value even if UB ends up flat or slightly up•ETF leveraged tokens are designed for short-term trading, not long-term holding•High leverage means significant gains or losses are possible with relatively small UB price movesYou can trade UB3L/USDT directly on Gate's spot market. UB3S (the 3x short counterpart) is also available.