Veranta has enabled up to 1,000x leverage on its bitcoin and ether Upside perpetual markets on Base, sharply narrowing the price move traders can withstand before liquidation.
The exchange's mainnet market catalog lists both profit-sharing markets as open for new positions with a 1,000x maximum. The new ceiling doubles the 500x limit described in its market guide.
Veranta's safeguards documentation says positions liquidate at an 85% loss of collateral. At 1,000x, that implies an adverse price move of roughly 0.085% from the execution price, according to The Defiant's calculation, before accounting for spreads, funding or position-specific adjustments.
In its Nov. 6 announcement, Veranta advertised “No queues” and “Instant profit redemption,” alongside no upfront fees.
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View post on XThe payout claim offers a contrast with Jupiter's YOLO beta, which also launched with up to 1,000x leverage. Jupiter's launch disclosure said users trade against a house and that unpaid profits would be queued if its funds ran low, with “No guaranteed payout time.”
A Vault Behind the Payouts
Veranta, formerly Avantis, uses USDC as collateral and settles trades onchain on Base. Its avUSDC liquidity-provider vault acts as the counterparty to every trade rather than matching each trader with an opposing trader.
According to the vault documentation, traders' losses accumulate in a protocol buffer. Profitable traders are paid from that buffer before the system draws on vault principal. Liquidity providers earn trading fees rather than receiving trader losses as yield.
The “pay-from-profits” model changes how the exchange charges traders, not whether they can lose their margin. Veranta's Upside mechanics specify no opening, closing or borrowing fees, with traders keeping 75% to 95% of profits depending on their return. Funding payments still flow between long and short traders, and spreads apply.
Immediate redemption does not remove the vault's exposure to winning trades. Veranta's risk-management documentation warns that liquidity providers can lose principal when trader profits exceed the available buffer.
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