FT lending uses equity based account valuation, not LTV. This allows for much higher effective LTV's based on an overall accounts health instead of any given position. Asset | APY | mmBPS | effective LTV USDC | +3.72% | 150 | 98.5% USDT | + 3.50% | 150 | 98.5% ETH | +1.66% | 1700 | 83% BTC | +0.71% | 1700 | 83% Liquidations are also not haircut based, but RFQ based, $ for $ repayments. Earn more on collateral. Borrow more. Pay less. Lose less. @flyingtulip_