You put up ETH as margin, the Phoenix treasury puts up the rest, and the combined amount buys the coin. It is not a perpetual future: there is no funding rate, no counterparty taking the other side and no synthetic price. Every position is a real spot buy of the real token, held in a fresh wallet made for that position alone. This page says who fronts the ETH, why a size sometimes comes back smaller than you asked for, what it costs, and the arithmetic that closes a position against you.
The same answer as on Solana, in a different currency: Phoenix fronts it, from a treasury wallet on Robinhood Chain.
You post margin. Phoenix adds the leveraged portion from its own treasury and buys the token with the total. There is no lending pool, no counterparty and no shared collateral basket that somebody else's position can liquidate you out of. The treasury is a real account on the chain, and its balance is the hard limit on how much can be fronted at any one time.
Because every position on this chain gets its own funded wallet, the whole path is legible afterwards: the buy, the sell and the settlement are separate transactions you can open on the explorer. That is also why the performance fee here is higher than Solana's. Funding a fresh wallet per position is a real cost the Solana pool does not carry, and the 1% opening fee on a margin this small does not cover it.
The same product on Solana →The checks run before any ETH moves, and they fail closed: a data source that is missing or unreachable is a refusal rather than a guess.
Ask for 2x and you will sometimes get less. Four limits are checked and the smallest wins, and the card names the one that bound you rather than refusing outright.
Naming the limit matters, because the two common ones have opposite fixes. Brought down to fit the pool means pick a deeper coin or a smaller margin. Brought down to fit the treasury means the pool needs more ETH and your coin was never the problem.
The performance fee only ever applies to gains, so a losing position is never charged twice. The exit cost is the one number on this list that is not Phoenix's: it belongs to the coin's liquidity, the card shows it on its own line, and it is already deducted from the after-exit figure you are shown.
The least fun section, and the one worth reading twice.
A position closes itself before the loss reaches the fronted ETH, and the level is set net of the exit rather than at the quoted price. That distinction is the whole point on a thin coin: a liquidation priced at a mark it cannot actually sell at is not a liquidation. The card shows the trigger as both a price and a market cap before you confirm, and again on every refresh.
On a pool that is young or thin there is a second line above it, a protective stop 25% below entry, because getting out early on such a coin is usually cheaper than getting out late. You can also set your own take profit, stop loss or trailing stop, by percentage or by market cap, and the monitor checks all of them against the real exit price rather than the paper one.
Your downside is your margin. If a coin gaps so far that the sale does not cover the fronted ETH, the shortfall is the treasury's rather than a debt you carry. There is no margin call. That is a property of the treasury-fronted structure, not a promise.
Read the docs →Yes. Phoenix opens leveraged longs on Robinhood Chain memecoins at up to 2x from inside Telegram, with the leveraged portion fronted from its own treasury. Every position is a real spot buy rather than a perpetual, held in a wallet created for that position.
Any token on Robinhood Chain above $4,000 of market cap, including coins that have not graduated yet. A coin still on its Pons launch curve is levered against the curve itself, so a fresh launch is tradeable from the moment it exists, at 1.5x while it is new.
Four limits are checked and the smallest wins: the 2x platform cap, 2% of the coin's pool depth, a quarter of the treasury's free ETH, and a 1.5x cap on any pool under 24 hours old or under 5 ETH deep. The position card names which one bound you.
No. A custodial wallet is created for you the first time you use the bot, keys are encrypted per user, and everything settles on Robinhood Chain. There is no bridge and no external wallet to connect.
No. The fronted portion is the platform's risk rather than a debt you carry, so the most a position can cost you is the margin you posted plus the fees on it.
No. There is a 1% fee on margin when a position opens and 7.5% of profit when it closes at a gain. Holding costs nothing per hour. The rate is higher than Solana's 5% because every position on this chain is funded into its own wallet, which the Solana pool does not have to pay for.
Yes. Close 25%, 50% or any percentage you type. The slice settles exactly like a full close: the treasury's share of it goes back first, the performance fee comes off the profit on it, and the position stays open at the same entry with a smaller size.