Collateral Value Ratio

In SubstanceX V2, non-stablecoin assets such as ZETA and BTC can be used as margin to trade perpetual. To account for price volatility, a 5% discount is applied to the valuation of these assets.

This means that two identical positions β€” differing only in margin asset β€” will have different liquidation thresholds. A position using ZETA as margin will be more susceptible to liquidation than one using USDT.

Margin Assets
Collateral Value Ratio

USDT

100%

ZETA

95%

BTC

95%

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