> For the complete documentation index, see [llms.txt](https://docs.hoodfun.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hoodfun.xyz/what-is-hood.fun.md).

# What is Hood.Fun ?

hood.fun is a leveraged-token engine and permissionless launchpad on Robinhood Chain. Every token launched through hood.fun is paired with a reflexive leveraged token (an "LT") instead of a normal spot asset — a keeper-rebalanced, tokenized perpetual futures position.

This means a token's price moves from two sources: trading activity on the token itself (users buying and selling), and the leveraged performance of the underlying asset the LT tracks. When the underlying moves in the LT's direction, the token's price can rise even without new buyers.

The flagship LT is HOOD5 itself — a pure 5× long on HOOD (the Robinhood stock token), hedged on Lighter. Anyone can permissionlessly launch a meme token backed by any perp registered through the LT Factory. Trades settle in ETH or the chain's native token. Once a token's bonding curve accumulates enough LT reserve, it graduates to a standard Uniswap V2 pool and keeps trading with the LT as its permanent pair.

{% hint style="warning" %}
This is leverage on a real, market-priced asset. It is a high-variance, negative-expectancy-for-the-average-holder instrument. See [Risks & Security](/risks-and-security.md).
{% endhint %}


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