Cross-collateral deposits
By default, markets are quoted in USD and P&L is settled in USDC. All tokens deposited within the protocol can earn yield via Borrow/Lend. Until unrealised P&L is settled into your Balances, it will not earn (if profits) or be charged (if losses) the deposit/borrow interest respectively.
Below is a table of assets supported by Leopard Protocol.
Each asset counts towards margin for derivatives trading and has a weight applied to account for their respective volatilities.
For instance, depositing USDC gives users a 1:1 margin for derivatives trading, but depositing SOL (80% asset weight) means that 80% of the value of your SOL at the opening of your position will be available as margin for perpetual futures trading.
Margin Parameters
USDC
100%
100%
100%
100%
0
SOL
80%
90%
120%
110%
0.00125
mSOL
80%
90%
120%
110%
0.003
wBTC
80%
90%
120%
110%
0.105
wETH
80%
90%
120%
110%
0.025
USDT
90%
95%
110%
105%
0.0004
jitoSOL
80%
90%
120%
110%
0.00055
PYTH
50%
75%
150%
125%
0.001
bSOL
80%
90%
120%
110%
0.003
JTO
50%
75%
150%
125%
0.001
WIF
25%
50%
175%
150%
0.004
JUP
50%
75%
150%
125%
0.001
RENDER
50%
75%
150%
125%
0.001
W
50%
75%
150%
125%
0.001
TNSR
25%
50%
175%
150%
0.01
Leopard
25%
50%
175%
150%
0.0005
INF
80%
90%
120%
110%
0.0005
dSOL
80%
90%
120%
110%
0.0005
USDY
90%
95%
110%
105%
0.0005
JLP
80%
90%
120%
110%
0.0003
POPCAT
25%
50%
175%
150%
0.0005
CLOUD
25%
50%
175%
150%
0.00001
PYUSD
90%
95%
110%
105%
0.0005
USDe
50%
75%
150%
125%
0.0001
sUSDe
50%
75%
150%
125%
0.0001
BNSOL
80%
90%
120%
110%
0.0005
MOTHER
25%
50%
175%
150%
0.0001
cbBTC
80%
90%
120%
110%
0.0005
USDS
90%
95%
110%
105%
0.0001
META
25%
50%
175%
150%
0.0001
ME
50%
75%
150%
125%
0.0001
PENGU
25%
50%
175%
150%
0.0001
Bonk
40%
60%
160%
140%
0.0005
Initial Asset Weights are also scaled lower based on notional value of total deposits. As a reference, you can check out UI or the SpotMarket get_scaled_initial_weight_asset for this scale factor.
The IMF Factor acts as a discount on account size:
Initial Asset Weight on 2000 SOL Collateral (using above) would be:
weight = min (.80, 1.1 / [ 1 + (0.003 * sqrt(2000)] )
= min(.80, ~.96987) = .80
An asset's liability weight can be converted into an LTV ratio using:
ltv = 1 / liability weight
Asset LTVs
USDC
100.00%
100.00%
SOL
83.33%
90.91%
mSOL
83.33%
90.91%
wBTC
83.33%
90.91%
wETH
83.33%
90.91%
USDT
90.91%
95.24%
jitoSOL
83.33%
90.91%
PYTH
66.67%
80.00%
bSOL
83.33%
90.91%
JTO
66.67%
80.00%
WIF
57.14%
66.67%
JUP
66.67%
80.00%
RENDER
66.67%
80.00%
W
66.67%
80.00%
TNSR
57.14%
66.67%
Leopard
57.14%
66.67%
INF
83.33%
90.91%
dSOL
83.33%
90.91%
USDY
90.91%
95.24%
JLP
83.33%
90.91%
POPCAT
57.14%
66.67%
CLOUD
57.14%
66.67%
PYUSD
90.91%
95.24%
USDe
66.67%
80.00%
sUSDe
66.67%
80.00%
BNSOL
83.33%
90.91%
MOTHER
57.14%
66.67%
cbBTC
83.33%
90.91%
USDS
90.91%
95.24%
META
57.14%
66.67%
ME
66.67%
80.00%
PENGU
57.14%
66.67%
Bonk
62.50%
71.43%
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