Skip to main content
Ondo Tokenized Stock Collateral lets you use your tokenized equities as margin for perpetual futures trading on Ondo Perps, without selling them. Eligible Ondo tokenized stocks can fund perpetual trading without first being sold for USDC. Their collateral value contributes to the user’s available margin, subject to applicable reference prices, haircuts and caps. The interface shows the user’s funded assets and USDC in two separate balances. The user’s Perps balance reflects collateral allocated to support perpetual positions. The user’s Spot balance reflects assets available for spot trading or held following a spot purchase. For tokenized stocks, each equivalent balance is a display representation of the underlying tokenized stock. See Balances. Supported assets: fund with an eligible Ondo tokenized stock on Ethereum. The interface displays an equivalent balance under the corresponding asset symbol. The underlying tokenized stock remains the asset held by the user. See Funding Ondo Perps and Collateral Assets for details.

​
Benefits of Tokenized Stock Collateral

  • Capital efficiency: Put your idle tokenized equities to work as margin instead of leaving them sitting idle in your wallet.
  • Maintain equity exposure: Trade perps without selling your equity positions. Underlying tokenized stocks remain the user’s collateral assets unless sold through Auto-Exchange or otherwise traded or withdrawn by the user.
  • Access leverage: Your tokenized equities contribute to your available margin, giving you the ability to open leveraged perpetual positions.
  • Real-time portfolio visibility: The interface shows the user’s total portfolio value, each asset’s contribution to Perps margin, and overall Perps margin health.

​
How It Works

Fund with an eligible tokenized stock to make it available as Perps collateral. Its contribution to margin is calculated using the reference price and applicable haircut, subject to the collateral cap. The interface displays an equivalent balance; the underlying tokenized stock remains unchanged. See Funding Ondo Perps and Collateral Value for the current rules. Opening a perpetual position does not itself sell the underlying tokenized stock used as collateral. Its value changes with the applicable reference price. A fall in collateral value can reduce the user’s margin even when an open position is profitable. Auto-Exchange can sell eligible collateral to cover USDC Debt. Liquidation closes perpetual positions and does not directly sell collateral tokens. Funding with an eligible tokenized stock makes it available as collateral in the user’s Perps balance. The underlying GM token remains the collateral asset. You retain beneficial ownership and may withdraw subject to margin health requirements. The exchange has the right to convert collateral allocated to the user’s Perps balance to USDC in the event of Auto-Exchange or liquidation. Assets allocated to the user’s Spot balance are not converted by those processes.