> For the complete documentation index, see [llms.txt](https://docs.lendsprotocol.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.lendsprotocol.com/borrow-against-tokenized-stocks/collateral-markets.md).

# Collateral Markets

A collateral market is a tokenized stock or fund that LENDS currently accepts for borrowing. Selecting a market determines which asset you deposit, how much leUSD you can borrow, and the conditions under which your position can be liquidated.

## Supported Market Set

The protocol configuration includes the following symbols:

`AAPL`, `AMD`, `AMZN`, `ASML`, `BABA`, `CLSK`, `COIN`, `CRCL`, `CRWV`, `EWY`, `GME`, `GOOGL`, `INTC`, `IONQ`, `META`, `MSFT`, `MSTR`, `MU`, `NBIS`, `NVDA`, `ORCL`, `PLTR`, `QQQ`, `RGTI`, `RKLB`, `SGOV`, `SLV`, `SNDK`, `SPCX`, `SPY`, `TSLA`, `TSM`, and `USO`.

## How to Read a Market

Before depositing, review:

| App value             | What it tells you                                                    |
| --------------------- | -------------------------------------------------------------------- |
| Price                 | The oracle price used to value collateral                            |
| Borrow LTV            | The maximum debt allowed relative to collateral value                |
| Liquidation threshold | The LTV at which liquidation becomes possible                        |
| Mint room             | How much more leUSD the position can currently borrow after all caps |
| Health                | The current distance from liquidation                                |
| Liquidation price     | The estimated collateral price at which health reaches 100%          |

## Prices and Market Hours

LENDS uses Chainlink price feeds to value collateral. Tokenized equities differ from crypto assets because their underlying markets close, can halt, and can reopen at a different price.

The current contract model uses the available oracle price during regular and off-hours and does not restrict you from borrowing or interacting with the protocol in any other way solely because the underlying equity market is closed - LENDS protocol operates 24/7.


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