Magpie

Smart collateral

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Smart-collateral markets accept an LP token of a stable pair (for example USDT/USDC) as collateral. You supply the two tokens; Lista’s provider adds them to the pool and posts the LP as collateral on your vault’s behalf.

Token A + Token B
from your wallet
approve + supply
Lista provider
adds liquidity → LP
on behalf of vault
Your vault’s position
LP as collateral

Supplying#

Smart-collateral panel for USD1 against USDT & USDC: Fixed Ratio and LP Mode, 100 USDT entered with USDC auto-filled, Max Slippage 0.1% / 0.5% / 1%, the Supply collateral button, then the Borrow section
Fixed Ratio: entering 100 USDT fills in the USDC leg at the pool’s current ratio.
  • Fixed ratio (default): edit one token and the other fills in at the pool’s current ratio.
  • Each ERC-20 is approved to the provider (an unlimited approval); a native-BNB leg is sent with the transaction.
  • Max slippage defaults to 0.5% (presets 0.1% / 0.5% / 1%) and sets the least LP you accept.
min LP accepted = expected LP × (1 − slippage)

Withdrawing#

Withdrawing redeems LP back into both tokens, sent to your wallet, with the same slippage guard:

min token_i = pool balance_i × LP withdrawn / LP supply × (1 − slippage)
Example · Pool of 1.0M USDT / 1.2M USDC, LP supply 2.19M, 0.5% slippage
You enter
1,000 USDT → 1,200 USDC auto-filled
Expected LP
2,195
Min LP accepted
2,195 × 0.995 = 2,184.03
Withdraw 100 LP: min USDT
1.0M × 100 / 2.19M × 0.995 = 45.43
Withdraw 100 LP: min USDC
54.52
An LP of two stablecoins carries de-peg risk on both legs, plus the pool’s own smart-contract risk, on top of the usual liquidation risk.
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