Multi-token Collateral

EMX supports Bitcoin (BTC), Ethereum (ETH), TrueUSD (TUSD), USD Coin (USDC), Tether (ERC-20 USDT), and our exchange token (EMX) as collateral. The full combined value of a trader's balances in these tokens is used to determine their funds available for trading.

At present, USD is considered the primary form of collateral. What this means is that:

1) payments to traders (realized profit, maker rebates, or swap funding payments) are always paid out in USD
2) payments collected from traders (realized losses, taker fees, or swap funding payments) are preferentially collected in the following order: USD, TUSD, USDC, USDT, BTC, ETH, EMX

In the future, we will offer more forms of collateral, as well as options for configuring which token is used to pay out or collect payments.