Inventory Management
Collateral pool is held in two primary locations:
On-chain smart contract wallet; and
Institutional custody.
On-chain smart contract wallet
Majority of ETH collateral is held on-chain, in a smart contract wallet linked to the protocol mint and redemption smart contract.
Institutional custody
A portion of collateral pool designated as margin for futures positions is held at institutional custody wallets outside of exchanges.
Currently, all margin is held at Ceffu.
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