LeverUp, a new Liquidity Provider (LP)-free perpetual exchange, has officially launched, built on the layer-1 blockchain Monad and backed by Makers Fund. The platform, announced on November 6th, 2025, offers a decentralized trading experience with uncapped open interest, zero fees, and scalability, aiming to address systemic inefficiencies in the DeFi space.
Traders can access up to 1001x leverage on crypto majors and real-world assets, powered by an institution-grade risk engine. A key feature is the 100% redistribution of protocol fees back to traders, eliminating traditional LP shares and promoting transparency. All positions, metrics, and protocol flows are on-chain and verifiable, enhancing trust.
The platform utilizes Monad's fast and scalable infrastructure for on-chain perpetuals trading, with native LVUSD settlement integrating a stablecoin layer for stability and capital efficiency. LeverUp's design allows open interest to scale independently of total value locked (TVL) or liquidity depth, breaking liquidity ceilings seen on other platforms. Users can explore more via LeverUp's Gitbook and testnet, with future integrations and updates expected.
