Monad's new platform directly eliminates LP: 1001x leverage + zero fees, this operation has some substance.

[Coin World] A rather wild derivation platform, LeverUp, recently emerged on the Monad on-chain after receiving investment from Makers Fund and directly got started.

What's the coolest part about this thing? It directly cuts out the liquidity providers as intermediaries. Traditional perpetual contract platforms have to share the cake with liquidity providers, but LeverUp says I run entirely on-chain, and 100% of the fees collected by the protocol are returned to the traders. It sounds like a pie in the sky, but they have actually written commitments like zero trading fees and unlimited position sizes into the code.

The leverage multiplier has been raised to 1001 times—this number is clearly a marketing tactic deliberately stuck at the “four-digit” psychological barrier, but it is quite exciting for degenerates looking to take a gamble. More importantly, they have issued their own LVUSD stablecoin for settlement, bypassing the reliance on USDT/USDC.

Of course, the rhetoric of “institutional-level risk management” should be questioned. Without an LP pool to back it up, whether the liquidation mechanism during extreme market conditions can hold up still needs to be verified by the market. Full transparency is a double-edged sword - on-chain data can be viewed by anyone, and large holders' positions are laid bare, which may not be a good thing for some players.