The biggest problem with leverage tokens today is that no one understands them. Contrary to other leverage tokens that use a variable target leverage range, the Bear uses fixed leverage mandated by the token. This is achieved through actively and continuously rebalancing throughout the day, as opposed to daily rebalancing at a fixed time, which kills the token’s return in zigzag markets. The whole point of using a leverage token is to get the leverage promised throughout the duration of holding the token. We understand the pain of not getting the leveraged upside when markets go up, but getting the promised leveraged downside when markets go down.