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Ondo Perps supports two forms of collateral: USDC and Ondo Stocks tokenized equities. Accepted Collateral Collateral caps are per asset and reflect current values, which may change. Your credited margin per asset is capped at the market value of the listed token amount; holdings above the cap can be deposited and withdrawn but do not contribute additional margin. Deposits are currently supported via Ethereum. Additional networks will be supported in future updates. For details on using SPYON and QQQON as collateral see Ondo Tokenized Stock Collateral. Deposit Addresses Ondo Perps is an encrypted offchain exchange and so does not require interaction with any smart-contract bridges to deposit assets. Each account can provision a deposit address that is permanently linked to that account. Any transfers to this address of a supported asset will be credited to the account. Pricing Deposited tokenized assets are priced using the mark price for the corresponding market on the exchange. A per-asset haircut is applied to account for price volatility, conversion costs, and weekend gap risk. The post-haircut value counts toward your margin balance and functions identically to USDC deposits for the purposes of opening and maintaining positions.