Perpetually Longed ETH as a DeFi Product



dETH is a token that provides holders with leveraged exposure to the price of Ether, without risking a full default of the funds being leveraged. If the ETH price goes up while the user holds dETH, the underlying ETH collateral of the position grows, allowing the user to later take out more ETH than they put in. Of course there is a risk: if the market goes down, so does the underlying collateral, putting dETH holders at a loss in ETH terms. To see how dETH has performed historically, see the interactive calculator on the dETH dashboard.


dETH has a clear market value for anyone wanting to gain more exposure to ETH price gains. When anyone deposits or withdraws ETH in exchange for dETH, Foundry takes a 0.9% profit from the ETH amount. This profit is then directed to $FRY growth and liquidity via the permafrost.

Current Status

dETH is live and stable at Here you can mint or redeem dETH directly, as well as play with the historical chart to get a feel for how different ETH price movements have affected the dETH position.

Future Plans

dETH itself is a finished product, but in a way it can be considered an MVP for a much more exciting suite of DeFi products. We’re currently exploring this space under the brand name Levrly.

Tech stack

dETH is an Ethereum smart contract that tokenizes an over-collateralized Maker CDP, which itself is automatically rebalanced by DefiSaver. The interface is written in NextJS.