Permissionless Portfolio Margin (PPM)
Leverage Everything
Status: Coming soon
What is Permissionless Portfolio Margin?
Portfolio margin lets you use assets like ETH, wstETH, or any supported ERC20 token as collateral for perps trading. Your spot holdings and perp positions are unified into a single account with one health ratio.
Technical Details
Portfolio margin is built on RIP-1: Modular Sub-accounts and integrates with Morpho Lite for permissionless lending markets. For the full technical specification including architecture, health calculations, and liquidation mechanics, see RIP-2: Permissionless Portfolio Margin.
Key Features
Leverage Any ERC-20
Use any token as collateral for perps trading. As long as there's a Morpho market for it on RISE, you can leverage it.
Permissionless Collateral Listing
New collateral types can be added without governance approval or whitelisting. Anyone can create a Morpho market, and once it meets liquidity thresholds, it becomes available for portfolio margin. The market decides what's valuable collateral.
Secure by Design
Risk is isolated between RISEx and Morpho through composability. The portfolio margin system coordinates between protocols without modifying either one; each maintains its own security model and liquidation logic.