Basics
What Is Long Token (L Token)?
A token that gains value when the underlying asset price increases.
Definition
A Long token is bullish exposure in token form. The underlying goes up, the Long token goes up with it. On Continuum a Long token never exists on its own: it is always minted against a matching Short.
How it works
Long tokens follow the oracle price of the underlying. Hold GOLD-L through a 10% rally in gold and the token is worth roughly 10% more. That gain comes out of the paired Short token.
In Continuum
Minting gives you equal amounts of L and S. Sell the S and what's left is a plain long position, with no expiry and nothing to roll.
Related terms
More basics terms
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