Buổi biểu diễn
Chỉ số Phổ Biến RD
Chỉ số Tăng Trưởng RD
So sánh
Theo dõi cập nhật
Theo dõi danh sách
Nhân vật
Về 2factor
2factor is an on-chain leverage product deployed on Base for Coinbase's tokenized stocks, redesigning the moderate leverage that long-term holders need into a position that can be held indefinitely. Its core splits an asset's (e.g. cbBTC) volatility into two perpetual tranches: a yield-bearing, downside-protected senior (BTC-Sr) and a cost-efficient, roughly 1.33x leveraged junior (BTC-Jr), kept in balance by a bidirectional funding rate.
Traditional leveraged ETFs suffer volatility decay from daily resets; 2factor sources leverage from capital seeking stable yield rather than short sellers, lowering the overall cost of holding leverage and using volatility-adjusted leverage targets. Launched on Base on September 17, 2026, it serves buy-and-hold holders who want spot-like leveraged exposure without daily monitoring, an early example of tokenized equities combined with structured leverage.
2factor launched on Base on September 17, 2026, sourcing leverage from stable-yield capital instead of short sellers, which it says cuts the all-in cost of a leveraged single-stock position by about 75%. The product splits volatility into two tranches: a senior layer that takes stable yield behind a thick buffer, and a junior layer targeting Kelly-optimal leverage of about 1.33x. Neither has a liquidation line, and financing cost is anchored at one third of the senior yield. cbBTC was the first market and currently runs as a capped beta.
The mechanism is asset-agnostic, and 2factor plans to extend the same tranching from bitcoin to tokenized equities, commodities and indices wherever a reliable price feed and positive long-run drift exist. Coinbase's tokenized stocks are the first expansion target, with Kelly multiples and senior buffers reset to each asset's volatility.