The platform now lets users post Ethereum as collateral for perpetual futures (crypto derivatives with no expiry), removing the need to convert holdings into USDT before trading.
Lighter said users can now use Ethereum as collateral when trading perpetual futures (crypto derivatives with no expiry) on its platform. The change is designed to improve capital efficiency, meaning traders can keep exposure to ETH while opening perpetual futures positions instead of first converting assets into USDT, a U.S. dollar-pegged stablecoin. In crypto derivatives markets, collateral choice affects how efficiently traders deploy capital and manage transfers between spot holdings and leveraged positions.