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Why can't I deposit Bitcoin, ETH, MATIC, or some other non-stable asset?

Laso only accepts stable coins because they reduce volatility risk and simplify accounting. Supporting volatile assets would require additional infrastructure (automatic swaps or hedging).

Updated over 3 months ago

We currently just accept stable coins, which makes ledger management much simpler. We can generally assume that the coins are pegged to a dollar (with depegging alerts set up).

Adding support for BTC or other non-stable assets just requires a new piece of infrastructure which is either:

  1. Initiating a swap for a stable asset once received. Or, more likely,

  2. Opening up a corresponding short hedge for the value of the asset deposited.

For Laso's business model, staying delta-neutral is important. We want to avoid adding volatility asset risk within the business, even if personally we may be long BTC.

Option 1 incurs some swap cost which can eat up our gross margin. Option 2 is a better solution, it just requires a bit more infra to be built to support it.

That is all to say: we want to support these assets, we just have to build a bit more to do it.

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