Collateral and Risk Parameters
Each collateral class and its live limits: max LTV, liquidation LTV, rate and borrow cap.
Each asset belongs to a class: Native stake (stake accounts with a listed validator), LSTs or Stocks (tokenized stocks). The class decides what happens at liquidation. Each asset’s limits come from the PUSD program, and these tables read them live, the same way Markets does. What the limits mean: Health and LTV.
Stake accounts
At liquidation: No forced sale; liquidation is repay-or-recover via stake mechanics.
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LSTs
At liquidation: Force-sold at market to repay debt.
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Tokenized stocks
At liquidation: Force-sold during US market hours; paused when the market is closed.
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How each is held
Deposits move into a vault the PUSD program controls, one per loan. Stake stays delegated to its validator while it backs a loan.