1x Tokens

1x Tokens provide synthetic spot exposure to assets that are difficult to access natively on Arbitrum. Instead of bridging to another chain, using a centralized exchange, or dealing with shallow spot liquidity, users can hold a simple ERC-20 token that tracks the underlying asset at 1x.

How They Work

1x Tokens use perpetual futures on GMX to create synthetic exposure. Toros maintains a 1x long position that closely tracks the underlying asset price.

The protocol handles all position management automatically:

• Maintains leverage near 1x through algorithmic rebalancing

• Manages funding payments and trading fees

• Rolls positions continuously with no user intervention

Because these are synthetic positions (not true spot holdings), there are costs involved. Funding payments, trading fees, and minor tracking differences mean 1x Tokens may not perfectly match the spot price over long periods.

Some 1X tokens are provided without funding payments or trading fees, and are true spot holdings. These are ETH1X and BTC1X which are provided for free with no fees taken. The purpose of providing these for free is for users to take advantage of automated trading with stop orders to schedule buys and sells at price targets. As well as a way for users to track their active portfolio of these assets on Toros personally and for participation in the leaderboard.

Available 1x Tokens

1x Tokens are available on Arbitrum, with select tokens also deployed on Ethereum.

Ticker	Vault Name	Asset	Networks
BNB1X	BNB 1X	BNB	Arbitrum
BTC1X	Bitcoin 1X	Bitcoin	Arbitrum, Ethereum
CRV1X	Curve DAO 1X	Curve DAO	Arbitrum
DOGE1X	Dogecoin 1X	Dogecoin	Arbitrum
ETH1X	Ethereum 1X	Ethereum	Arbitrum, Ethereum
GOLD1X	Gold 1X	Gold	Arbitrum
HYPE1X	Hyperliquid 1X	Hyperliquid	Arbitrum
LINK1X	Chainlink 1X	Chainlink	Arbitrum
PUMP1X	Pump.fun 1X	Pump.fun	Arbitrum
SOL1X	Solana 1X	Solana	Arbitrum
SUI1X	Sui 1X	Sui	Arbitrum
XRP1X	XRP 1X	XRP	Arbitrum

For options-based products such as BTCCOVCALL1X, see Covered Call.

Key Considerations

• Not true spot: 1x Tokens are synthetic products backed by perpetual futures positions, not actual holdings of the underlying asset.

• Funding costs: Perpetual futures positions pay or receive funding rates. In bullish markets, long positions typically pay funding, which reduces returns over time.

• Tracking differences: Minor deviations from the spot price can occur due to funding payments, trading fees, and rebalancing.

• Not a passive substitute for spot: Over long holding periods, cumulative funding costs and tracking drift mean 1x tokens may underperform direct spot holdings. They are best suited for gaining exposure to assets not natively available on a given chain.