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Multi-collateral
Multi-asset margining allows traders to use different assets as collateral for derivatives trading. While in V2, the user can deposit only USDC as collateral, in V2.5, it will be possible to use other cryptocurrencies, for instance, SPIN, BTC, ETH, and REF. To use them as collateral, it is necessary to indicate the price of cryptocurrencies in USDC, in which case Flux Oracle will be used.
Depending on the volatility of the asset, a discount coefficient gets assigned to it, by which the value of the cryptocurrency is multiplied to determine the margin that this asset adds. The discount coefficient is set by the DAO for each cryptocurrency separately. In the future, it can be changed through the DAO's proposals and votes and the list of assets supported as collateral.
Initial discount ratios and list of supported assets:
- USDC – 1
- USDT – 1
- DAI – 1
- BTC – 0.8
- ETH – 0.7
- NEAR – 0.5
- SPIN – 0.5
- REF – 0.5
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