1 month ago
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Key Takeaways
- pTokens represent shares in configured perp accounts.
- Each account has a set market and leverage.
- Funding and liquidation risk remain part of it.
- Selected Stock Tokens can now support margin.
- Liquidity and pricing will decide the product’s value.
A leveraged trade can now leave the trading account
Perpetual futures are usually tied to the account in which they were opened. That account holds the collateral, records funding payments and unrealized profit or loss, and is subject to the exchange’s margin rules. A trader who wants to hand the exposure to someone else normally closes the position or gives that person access to the account.
According to The Block, which received a statement from Arcus, each pToken represents a pro-rata share of a perpetuals account set up for one market and one leverage level. The holder owns an ERC-20 whose value reflects th...
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