---
# System prepended metadata

title: 'Collateral Call Summary - Episode #18'
tags: [Collateral Call]

---

---
tags: Collateral Call
---

# Collateral Call Summary - Episode #18
December 2nd, 2020

## Agenda

- [00:00](https://www.youtube.com/watch?v=s-snD7yZVnE&t=0s): Intro with Juan Guillén
- [00:38](https://youtu.be/s-snD7yZVnE?t=38): Leverj with Shashank Tiwari
- [46:50](https://youtu.be/s-snD7yZVnE?t=2786): Q&A and Discussion about Leverj

## Video

<https://www.youtube.com/watch?v=s-snD7yZVnE>

## Introduction

### Juan Guillén

#### Agenda and Preamble
[00:00](https://www.youtube.com/watch?v=s-snD7yZVnE&t=0s)

- Welcome everyone to another MakerDAO Collateral Call. We're happy to have with us Shashank from Leverj.
- For those who don't know, it's a derivatives decentralized platorm, so we're going to speak a little about perpetual positions, futures, and whatnot.
- Discussions about collateral happen in the [Forum.](https://forum.makerdao.com/c/risk/collateral-meetings/23)

## Leverj


### Shashank Tiwari

#### Presentation
[00:38](https://youtu.be/s-snD7yZVnE?t=38)

![Shashank Tiwari](https://i.imgur.com/3ZRh8HL.png)

[**01:42** - "I don't have a Powerpoint type of presentation. I will just walk through the concepts, show you things that are live. Let me give first a little introduction on the story of Leverj, the underlying technology and why and how this is important to the entire ecosystem"](https://youtu.be/s-snD7yZVnE?t=102)

[**07:26** - "On the basis of that, Leverj was able to realize a high-speed decentralized derivatives platform [...] There is our token, which drives the governance and some of the security contracts. Plus it also allows people to earn rewards if the stake actively. That token is L2"](https://youtu.be/s-snD7yZVnE?t=446)

[**09:06** - _Juan asks Shashank for a short definition for "derivative" and what kinds of derivatives Leverj has_ (09:06)](https://youtu.be/s-snD7yZVnE?t=546)

![](https://i.imgur.com/ziJkTmQ.jpg)

[**12:14** - "Let me try to address that question about derivatives"](https://youtu.be/s-snD7yZVnE?t=734)

[**17:17** - "I'm talking primarily about the fiat asset class, which is basically the regular markets across different asset classes. What we have seen in the crypto world is that there has been a lot of activity around basic future contracts or basic contracts that let you trade on prices of the main crypto assets a little ahead in time"](https://youtu.be/s-snD7yZVnE?t=1037)

[**19:18** - _Juan asks Shashank to elaborate on the difference between futures and perpetuals_ (19:18)](https://youtu.be/s-snD7yZVnE?t=1158)

![](https://i.imgur.com/9TdPcvs.png)

[**25:05** - "If you look at the site that I'm sharing right now, this is essentially the Leverj IO perpetual trading platform. Let me mention a few things about this contract"](https://youtu.be/s-snD7yZVnE?t=1505)

![](https://i.imgur.com/fzHLYmD.png)

[**29:55** - "You will end up seeing a wallet like this. The idea of this Gluon wallet is that you have things which exist in your main chain [...] Once I've connected and registered my account, I take a part of it or all and move it over to the Plasma wallet; and now that it's available on the Plasma wallet, I can use it to trade these derivatives"](https://youtu.be/s-snD7yZVnE?t=1795)

[**34:49** - _Juan asks where the prices are coming from. Regarding margin, he further asks how the liquidations work, at what percentages they kick in_](https://youtu.be/s-snD7yZVnE?t=2089)

![](https://i.imgur.com/K4ZefNq.png)

[**40:18** - "Let me talk about liquidations a little bit. And in the interest of time I'm also going to talk a bit more about L2 per se, the token that we're here for"](https://youtu.be/s-snD7yZVnE?t=2418)

![](https://i.imgur.com/cvfWGKw.png)

[**52:22** - "In terms of the Maker world, how it plays in here and what might make sense here, if you look at the Maker world and Leverj as two venues and how they could play well together, there are three or four things that pop up in my mind right away...""](https://youtu.be/s-snD7yZVnE?t=3142)


#### Discussion

- [46:50 - How long does it take for me to deposit ETH? Rollups takes seven or five days; CK takes half an hour with Loopring...](https://youtu.be/s-snD7yZVnE?t=2810)
- [48:41 - Did you go over the frontrunning part of things? Is something like `fill-or-kill` available on your platform?](https://youtu.be/s-snD7yZVnE?t=2921)
- [56:36 - Can you comment on what the fees are? Also, you mentioned signing a couple of contracts, so maybe you can comment on gas fees too](https://youtu.be/s-snD7yZVnE?t=3336)
- [01:01:00 - I guess it depends on the price of the gas fees, Can you give us a rough idea on how much it is to fund or withdraw the account?](https://youtu.be/s-snD7yZVnE?t=3660)
- [01:01:55 - You are competing against the ftxs of the world, dydxs, Decentralize... Would you say that's the downside risk, that you're competing against ftx, dydx, and the fact that L2s are still brand new and we still don't know which ones are going to survive?](https://youtu.be/s-snD7yZVnE?t=3715)


## Closing Comment

### Juan Guillén

#### Outro
[01:06:05](https://youtu.be/s-snD7yZVnE?t=3965)

- Thank you, Shashank, for coming. It was very nice to have you. Thank you, everyone else, for coming. Next week we're going to have Mona El Isa from Melon Protocol discussing more interesting projects

## Credits

- @Blimpa produced this summary.
- Everyone who spoke and presented on the call, listed in the headers.