Expanded tokenized stock collateral
Platform updates
- Eligible collateral expanded to include NVDAon, GOOGLon, TSLAon, SNDKon, SPCXon, CRCLon, SLVon, and GLDon, alongside SPYon and QQQon, each with its own haircut and collateral cap.
- The interface now displays funded tokenized stock as an equivalent balance under the corresponding asset symbol (e.g. SPYon shows as a SPY-equivalent balance), calculated using a reference price. The underlying token is unchanged and returned in full on withdrawal.
- Funding Ondo Perps: renamed from Funding Your Account; published the full list of eligible collateral, haircuts, and caps.
- Collateral Assets: new page documenting the funding-asset-to-displayed-balance mapping and withdrawal behavior.
- Overview, Withdrawals, Collateral Value, Settlement, Collateral Management, Positions Panel: clarified that the displayed asset symbol (e.g. SPY) is a UI representation of the underlying tokenized stock, not a separate asset.
Tokenized Stock Collateral GA and documentation updates
Platform updates
- Tokenized Stock Collateral is now available to everyone. The Pre-Alpha restriction has been removed; deposit SPYon or QQQon directly from your account.
- API key creation is enabled by default for all accounts. API usage is rate limited to 1 request per second by default; higher limits are available by request via support@ondoperps.xyz.
- Maximum position size raised to $1,000,000 per market, per account (previously $500,000).
- Public Beta: documented the Tokenized Stock Collateral beta parameters: per-asset collateral caps, the 30% maximum allowed USDC Debt, and the $100,000 USDC Debt cap per account.
- Funding Your Account: published per-asset collateral caps (146 SPYon, 166 QQQon).
- Fees: clarified fee mechanics: fees are charged in USDC per fill and deducted from your USDC balance, separate from position PnL.
- Funding Rates: clarified that funding payments are credited to or debited from your USDC balance.
- Collateral Management: corrected the Maximum Allowed Debt formula to
min(Non-USDC Margin Value x 30%, $100,000). - Settlement: documented that Auto-Exchange also triggers at the $100,000 USDC Debt maximum, and clarified the difference between Auto-Exchange and liquidation. Auto-Exchange sells only enough collateral to cover the debt.
- Withdrawals: published the exact withdrawal model, including how unrealized PnL and USDC Debt affect what you can withdraw.
- Weekend Mechanics: stated the closed-market settlement fee (currently 2.5% of the debt repaid).
- Measuring Risk: noted that with tokenized stock collateral, a decline in collateral price can raise your Margin Ratio on open positions.