Last time I shared the bStocks mechanism, and I just noticed that bStocks now support collateralization, so I did some additional research. Using bStocks as collateral increases capital efficiency—no need to explain further. Since it's being used as collateral, the specific metrics are actually more worth paying attention to. Right now, bStocks treat all stocks equally: Tesla and NVIDIA both have a 50% collateral ratio, meaning $100 is counted as $50. As for the price feed, it's even more interesting—it uses a dual system: - During U.S. stock market hours, the price feed is primarily based on U.S. stock prices, with a weighted addition of Binance futures prices. - After U.S. stock market hours, the index price directly uses the last closing price of U.S. stocks. ---Divider--- To be honest, if we’re talking liquidity, NVIDIA > Tesla > ≈ Bitcoin. But BTC’s collateral ratio on Binance spot is calculated at 95%, while bStocks currently only have a 50% collateral ratio. Since the price index directly takes U.S. stock prices, it’s actually very safe. After all, the U.S. stock market is a massive and stable system, so even if the bStocks collateral ratio is raised to 80–90% in the future, it wouldn’t be unreasonable (referencing WBETH and BNSOL treatment). However, as a trial feature (currently only available to VIP3 and above), setting it at 50% for now is fine. It can be gradually increased and opened up later.