Unified Margin Risks Accelerate Liquidations in DeFi

The trading volume of real-world asset perpetual futures has surged significantly in recent months, reaching a record high of $799.5 billion in August.

This growth is largely driven by stocks, which accounted for 62.3% of the total volume on both decentralized finance (DeFi) and centralized venues, according to CoinMarketCap.

The rise of unified portfolio accounts is also changing the way traders approach margin trading.

These accounts allow a trader's entire holdings to back every position at once, rather than relying solely on stablecoin deposits.

This shift has significant implications for margin design and liquidation processes.