LeverUp's AnyCollateral program is live. Supported Monad ecosystem tokens can now be used as trading margin on LeverUp — without selling, without any changes to the token's design, and without requiring project-side engineering integration.

Hold a Monad token. Open a BTC long. Don't sell a single coin to do it.

The Problem This Solves

DeFi capital is inefficient by default. Most tokens do one thing: appreciate (or depreciate) while sitting in a wallet. The holder takes on price risk without any mechanism to put that capital to work. The only way to use a token for something else is to sell it, which means exiting the position you wanted to keep.

On Monad, that inefficiency compounds as the ecosystem grows. More tokens, more projects, more holders, and most of that capital just sits there.

AnyCollateral opens a new layer: the token keeps doing its original job, and gains a new function at the same time.

How It Works

AnyCollateral is a program that lets supported Monad ecosystem tokens be used as margin on LeverUp.

For holders: deposit your token as collateral, open a trading position, and maintain full exposure to the underlying asset. Your collateral keeps its role in your portfolio. PnL is generally denominated in the deposited collateral token, subject to the settlement safeguards described below.

For projects: your token gains new on-chain utility the moment it's added to the supported list. The mechanism requires nothing from the team.

The program is built on three structural principles.

Three Principles

1. Utility Without Changing the Token

Adding a token to AnyCollateral doesn't require redesigning tokenomics, introducing staking or voting, adding burn mechanics, issuing new emissions, or deploying any new contract.

The new utility comes entirely from LeverUp's side. Once a token is reviewed, configured, and added to the supported collateral list, holders can use it as margin immediately. No code changes from the project team. No change to supply dynamics. No disruption to the existing token narrative.

The token stays exactly what it is. LeverUp adds a new use case on top of it.

2. Demand Without Sell Pressure

When a holder uses a token as margin, they lock it — they don't sell it. PnL is denominated in the deposited token, so the user experience stays collateral-native instead of forcing a separate stablecoin settlement flow.

The result is a new source of collateral utility that can complement spot trading flows rather than depending on emissions, buybacks, or token redesigns. Holders who want to use their tokens as margin need to acquire and hold them. That demand doesn't show up as team selling, project unlocks, or buyback-driven price support. It's organic utility demand.

3. Integration Without Engineering

LeverUp handles everything on the infrastructure side: oracle integration, settlement logic, collateral parameters, the liquidation engine, and the trading interface. Projects don't need to write a line of code or allocate any engineering resources.

The team can stay focused on its roadmap. The utility is live without touching their development cycle.

Monad's Role

AnyCollateral doesn't make sense as an abstract concept. It requires an ecosystem dense enough for the program to matter: enough tokens, enough holders, enough activity to create a meaningful layer of productive capital.

Monad is that ecosystem now.

Five months after mainnet launched in late 2025, the chain has crossed $400M in TVL, processed 140M+ transactions, and onboarded 1,000+ builders into ecosystem programs. Blue-chip DeFi protocols shipped in the first weeks. Institutional participation from firms connected to traditional financial infrastructure followed. The infrastructure is in place, the capital is present, and the builder community is active.

What follows in every successful ecosystem is a layer that lets the ecosystem's own tokens do more. Not just the native gas token. Not just stablecoins. A broader set of eligible project tokens with verifiable liquidity, price discovery, and active communities.

Perps are a natural primitive for that layer because they give holders a flexible way to express market views without leaving the on-chain environment. AnyCollateral connects Monad's growing token ecosystem to that primitive.

The Ecosystem Loop

The logic closes inside Monad: more tokens supported by AnyCollateral → more trading activity on LeverUp → more protocol activity → more protocol value available to support the LeverUp trader ecosystem and $LV-aligned incentives.

LeverUp isn't building a parallel financial system alongside Monad. The thesis is the opposite: Monad's tokens should be usable across Monad's most important financial primitive. One protocol, your assets.

How the Collateral Parameters Work

When a token is added to AnyCollateral, it carries a Collateral Ratio (CR) — a number between 0 and 100% that reflects the token's liquidity depth and volatility. A 70% CR means $0.70 of effective margin for every $1.00 deposited. Higher-liquidity tokens earn higher ratios.

Two risk factors apply to every AnyCollateral position:

Dual liquidation risk. Your position faces two independent risk vectors: the perp market movement and your collateral token's price. A sharp collateral drawdown can trigger liquidation even if the trade itself is profitable.

Sub-1x force close. If your collateral value grows past your position size, dropping effective leverage below 1x, the protocol automatically closes the position and returns collateral. Clean exit, no manual intervention needed.

If same-token settlement is temporarily constrained, LeverUp may use LV-denominated settlement at TWAP pricing to preserve USD value equivalence.

What's Next

AnyCollateral is a program, not a one-time launch. As more Monad ecosystem tokens are reviewed and configured, the supported collateral list expands.

What we look for in token applications:

  • Real assets — verifiable on-chain liquidity and price discovery
  • Real communities — active holders, not just circulating supply
  • Real on-chain traction — usage, transactions, protocol activity

If your project is building on Monad: ac.leverup.xyz

Documentation: leverup.gitbook.io/docs/liquidity-layer/anycollateral

Start trading with your Monad tokens as collateral: app.leverup.xyz