Decentralized perpetuals exchange Lighter is rolling out Multi-Asset Margin today, enabling traders to post non-USDC assets as collateral for perps trading.
The feature debuts with ETH as the first supported collateral asset, according to Lighter's documentation. Users deposit a supported asset into their margin balance, and its value, discounted by a loan-to-value haircut, counts toward the account's margin balance and can be used to open perpetual positions. The upgrade is limited to perpetual futures at launch, with USDC spot trading collateralized by non-USDC assets slated to follow.
Lighter is rolling out the feature with conservative per-user and global supply caps as it onboards additional assets over time, per the docs. Access is restricted to accounts with Unified Trading Accounts enabled, which the team rolled out in February and described at the time as the first phase of a push to allow arbitrary tokens to be used as collateral on the platform.
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