BCHUP (BCHUP) is a Binance leveraged token that seeks to allow users to generate leveraged benefits when BCH increases in price. Binance leveraged tokens (BLVTs) refers to tradable assets or off-chain tokens that increase users' exposure to the primary cryptocurrency. A leveraged token allows the holders to earn a leveraged position in a crypto asset. Thus, a leveraged token multiplies all the profits and losses of the user. Every leveraged token denotes a basket of perpetual contract levels. A perpetual contract allows an individual to trade a cryptocurrency at a predetermined time for a specific price. Such contracts do not have any expiration date.

Leveraged token’s price tracks and records the changes in the notional price of the perpetual contract positions in the basket. The price of a leveraged token is known as net asset value (NAV). Further, this NAV traces the adjustments in the multiples of leverage amount. Simply put, the performance of the underlying fund and its related leverage determines an asset’s price. Binance leveraged tokens maintain fluctuating target leverage limits between 1.25x and 4x. Thus, BLVT seeks to maximize the earnings on price growth and minimize losses to prevent liquidation. Additionally, the holders do not need to maintain any margin or pledge collateral to receive the benefits of Binance leveraged tokens.

Being a BLVT, BCHUP seeks to allow the users to produce a leveraged profit with the increase in the price of Bitcoin Cash (BCH). Bitcoin cash is a cryptocurrency created from a fork of Bitcoin to increase the block size for improving scalability and allowing more transactions. BCHUP token runs on the Binance network, an online cryptocurrency exchange. The users can trade crypto assets and store coins in wallets using Binance. The platform aims to expand the freedom of currency globally. The exchange has the vision to aim to improve users’ lives by spreading the liberty to trade and spend digital currency freely.

Binance introduced BCHUP (BCHUP) on October 10, 2020.

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