avatarGaurav Agrawal

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But I learned to forgive. I learned to practise empathy and understand the 7-year-old, I knew she hadn’t intended to hurt Betsy. We never told her that Besty died but I am sure she would have been mortified and filled with remorse for a long time. That idea of empathy, the understanding that people have different values, priorities or ethics and behave in different ways has always helped me to forgive. I did not believe in carrying grudges, life was too short to be resentful.</p><p id="b8f5" type="7">That same idea of empathy and forgiveness was also the reason I stayed in abusive relationships</p><h2 id="1ccb">Abusers use forgiveness against you</h2><p id="ff7a"><i>“You are not being fair, people make mistakes!” “Come on, that was ages ago, have you still not forgiven me?” “I said I was sorry, what more do you want?”</i></p><p id="3167">These are some of the things my ex would say when I got upset about his behaviour. When you are in an abusive relationship, the concept of forgiveness can quickly become a weapon the abuser uses to keep you trapped. The idea that you must forgive them is like permission to continue with the abuse. Lundy Bancroft, who has worked with over 2000 abusive men writes:</p><p id="7386" type="7">“My clients demand forgiveness while continuing to insult, threaten, demand immediate responses, attend only to their own needs, and more.” (Why Does He Do That? p. 217)</p><h2 id="f5de">Forgiveness requires remorse</h2><p id="9234">I always thought forgiveness was unconditional. Although I am not religious, I was brought up going to church and reading the bible. The concept of forgiveness I had was influenced by the phrases and sermons I had picked up at a young age. <i>“Bear with each other and <b>forgive</b> one another if any of you has a grievance against someone. <b>Forgive</b> as the Lord forgave you.” </i>I thought it meant that you have to forgive everyone and anyone no matter what they had done. But there is one point I never knew: This idea of forgiveness is based on the assumption that the person I am forgiving shows remorse.</p><p id="c92b" type="7">Overlooked in common Christian understanding of forgiveness is the necessary part of repentance by the wrongdoer. John McKinley</p><p id="d22c">One of the most difficult concepts to understand after <a href="https://readmedium.com/13-signs-i-dated-a-narcissist-44d1db6ee3e4">my relationship with a narcissist</a> was that there are people who are incapable of feelin

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g remorse. He never apologised or cared about what happened to me. When he left, it was as if he had turned off a switch, his new victim was all that mattered and I never existed. Part of me was hoping for a long time that I would receive an apology. But I know that it will not happen. Although I understand now <a href="https://readmedium.com/how-a-narcissist-prepares-you-for-the-abuse-6383e7c92873">how abusive he was</a>, in his mind, he has done nothing wrong. <i>He does not seek forgiveness.</i></p><h2 id="5d37">Forgive yourself</h2><p id="46a4">I don’t think I need to forgive him to lead a happier and healthier life. I do not believe that forgiveness is part of the healing process unless it is directed at myself. <i>Forgiving yourself is key</i>.</p><p id="7171">Forgive yourself for not seeing it, for staying longer than you should have. Forgive yourself for moments you were weak and for moments when you might feel week again. Forgive yourself for ways you have behaved or things you have said. Forgive yourself for all the things you feel remorse over. Forgive yourself for never being able to forgive those that show no remorse.</p><h2 id="2210">More from Kara Summers:</h2><div id="b84b" class="link-block"> <a href="https://readmedium.com/do-you-feel-like-you-are-constantly-upsetting-your-partner-b1e9f5fcd6df"> <div> <div> <h2>Do You Feel Like You Are Constantly Upsetting Your Partner?</h2> <div><h3>Make sure you aren’t the one who is the real victim.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*7hsqJBnmFY3IjI7k)"></div> </div> </div> </a> </div><div id="fc43" class="link-block"> <a href="https://readmedium.com/a-day-in-the-life-of-a-toxic-relationship-ffb487a213ec"> <div> <div> <h2>A Day in the Life of a Toxic Relationship</h2> <div><h3>Many don’t recognise narcissistic abuse when they are caught in the middle.</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*ul7zBaj8k26PDM4k)"></div> </div> </div> </a> </div></article></body>

An ultimate guide to Leveraged Token

Leveraged tokens are ERC20 tokens with leveraged exposure without taking care of the margin, requirements, management, and liquidation risk. In other words, Leveraged tokens are the easiest way to do leverage trading.

They maintain fixed or variable leverage. In traditional leveraged tokens, the leverage is rebalanced at 2:00 am every day and when the spot market price changes by 10%.

However, different exchanges follow different techniques to rebalance their leveraged tokens. This article will discuss the top three exchanges that offer leveraged tokens — Pionex, Binance.

New to trading? Try crypto trading bots or copy trading

Summary

  • Leveraged Tokens enables you to gain exposure to leveraged trading positions without maintaining margin, collateral, management, and risk.
  • They offer fixed, and variable leverages. Additionally, the rebalancing mechanisms help in maintaining the target leverage range.
  • Leveraged Tokens are not designed for holding, buy and sell them quickly, don’t hold them.
  • Pionex offers leveraged tokens with an optimized rebalancing mechanism. They have designed specific rules to trigger rebalancing.
  • Binance provides Binance Leveraged Tokens (BLVT) that have variable leverage between 1.25x and 4x.
  • BLVT leverage is not publicly visible, and they do not rebalance themselves periodically. These tokens are listed only on Binance.

Disclaimer — This article contains product affiliate links. We may receive a commission if you make a purchase after clicking on one of these links.

1. Pionex

Pionex Leveraged Tokens offer high leveraged exposure with an optimized rebalancing mechanism. They provide variable target leverage that fluctuates within a specific range according to the crypto asset price. The rebalancing is triggered if the leverage exceeds a particular limit.

They use the “Coin + Leverage + Long/Short” nomenclature for Pionex Leveraged Tokens. For example, ETH3L indicates ETH 3X Long.

The leverage is calculated using the formula -

Leverage = current price * the leverage of the order/ the price of the order + the leverage of the order *（current price - the price of the order）

Let’s take an example to understand this better -

Imagine if you used 3X Long ETH and the price is 10,000USDT. The leverage will be 3x = 10000*3/10000+3*(10000–10000).

Now, if the price increases to 11,000 USDT the leverage will be 11000*3/10000+3* (11000–10000)= 33000/13000 = 2.5385x.

Therefore, if the price goes down, the leverage increases, and if it goes up, the leverage decreases.

Additionally, you can also use trading bots with leveraged tokens. You can choose to use Grid Trading Bot, Infinity Grid Bots, and Trailing Take Profit bot according to different situations.

Pionex Leveraged Tokens

Rebalancing

Rebalancing is used to increase or decrease the exposure to achieve the target leverage. There are rules defined to trigger the mechanism.

In traditional leveraged tokens, the rebalancing is triggered at 2:00 am and when the spot market price changes 10%.

The rebalancing mechanism of Pionex Leveraged coins works as follows -

  1. 3x Long Pionex Leveraged Tokens: The leverage can fluctuate from 2.2X-4.8X, but if it exceeds this, it will be rebalanced to 3X.
  2. 3x Short Pionex Leveraged Tokens: The leverage can fluctuate from 1.8X-4.8X, but if it exceeds this, it will be rebalanced to 3X.
  3. 1x Short Pionex Leveraged Tokens: The leverage can fluctuate from 0.75X-1.5X, but if it exceeds this, it will be rebalanced to 1X.

The funding fee of Pionex Leveraged Token is 0.03% per day. Therefore, the token price will decrease by 0.03% every day at 16:00 (UTC). The price of the leveraged token depends upon the funding fee, spot price, and rebalancing.

Reverse Split on Pionex Leveraged Tokens

Pionex uses a Reverse split on some of its Leveraged tokens if its net value is lower than 0.05 USDT. This is done to avoid the impact of precision and to assist users in their trading.

The Reverse Split Ratio decides the number of shares that will be merged. For instance, if the ratio is 1/10, then ten shares will be merged into one. The net value per share will also be ten times.

There is prior information on the date and time in which the reverse split shall take place. All the running bots and manual orders are stopped/canceled during this duration.

To learn more read our comprehensive Pionex review.

2. Binance

Binance is one of the best crypto exchanges in the market. It offers Binance Leveraged Tokens (BLVT), tokenized versions of leveraged futures positions. They represent a basket of open positions on the perpetual futures market.

Features of Binance Leveraged Tokens (BLVT)

  • You cannot withdraw BLVT from your wallet. In other words, you can only store BLVT’s in your Binance account.
  • They provide variable leverage. The exact target is not publicly visible to avoid traders to anticipate rebalancing events. The tokens do not balance periodically but only when the market conditions are necessary.
  • Binance tries to maintain leverage between 1.25x and 1.5x.
  • The Net Asset Value ( NAV) is the value of BLVT in USDT.
  • They focus on maximizing the returns when the price goes up and minimizing liquidation risks when the price goes down.
  • The redemption and subscription limit of each BLVT is different.
  • You can check your subscription and redemption history.
Binance Leveraged Tokens (BLVT)

Binance Redemption Fees

There are two options to exit your position.

  • Sell BLVT in the spot market.
  • Redeem the value of your BLVT’s in USDT. However, you have to pay a redemption fee of 0.1%. Redemption is expensive in most cases and is used in extraordinary situations.

Leveraged Tokens: Risk and Benefits

Risks

  1. They are high-risk products. You can be at a loss if you don’t have enough knowledge about Leveraged Tokens before investing in them. It is not advised for beginner traders.
  2. Leveraged Tokens are rebalanced daily and hence are not advised for long-term holding.
  3. The transparency offered by leveraged tokens depends on the exchange you are using.

Benefits

  1. They offer leveraged exposure without managing margin trade, liquidation, collateral, and funding rates.
  2. Allow you to take advantage of market volatility.
  3. They automatically reinvest your profits and sell some of them if the market is down to avoid liquidation risk.

Leveraged Tokens: Conclusion

Leveraged tokens provide leverage exposure without worrying about management and other risks.

Pionex Leveraged Tokens provide high leverage with optimized rebalancing techniques. All the rules for calculating leverage to rebalancing mechanisms are transparent to its traders. Above all, they also reverse split on some tokens to smoothen the trading experience.

Binance offers Binance Levraged Tokens (BLVT) with variable leverage. The variable leverage (1.25x — 4x) is not publicly visible. They are listed only on Binance and cannot be withdrawn to your wallet from your Binance account.

If you want to get leverage without worrying about all the nitty-gritty of leverage trading then Leveraged tokens are built for you.

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