USD-Margin Framework

All instruments on Syndr are margined in USD.

Multi-currency cross margining

Syndr supports multiple collateral assets which are dynamically priced using individual price feeds as well as a corresponding balance weight.

• Syndr will essentially aim to only include coins with large market caps and trading history as collateral assets.
• Sufficient prior notice will be provided to all users on the platform before adding/removing new and existing collateral assets.

The balance weight is essentially a fraction between [0,1] which determines the amount any given collateral asset can contribute towards account equity while margining. This factor is introduced to account for uncertain market conditions like depegging risks and high-volatility price events. Syndr's risk engine will try to dynamically update the balance weights and

For e.g., WBTC, WETH & major stablecoins can have a collateral weights set to 1 but for other assets this weight can less than 1 as well.

Multi-collateral settlements

When settling different instruments, all the collateral assets in a user's account are utilized. For certain instruments, base currencies will be given priority during settlements, followed by other assets.