> For the complete documentation index, see [llms.txt](https://docs.starfish.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.starfish.finance/defi-x-nft-fi/nft-fi/collateral-ratio.md).

# Collateral Ratio

For the whitelisted NFT collections, they will have different collateral ratios based on the volatility and trading activity of the collection. If the collection has a lower volatility, and high trading activity in the market, the corresponding collateral ratio will be higher.

| **NFT as Collateral** | **LTV (Collateral Ratio)** | **Margin Call** | **Liquidation Call** |
| --------------------- | -------------------------- | --------------- | -------------------- |
| CryptoPunks           | 40%                        | HF < 2          | HF < 1               |
| BAYC                  | 40%                        | HF < 2          | HF < 1               |
| MAYC                  | 30%                        | HF < 2          | HF < 1               |
| Doodles               | 30%                        | HF < 2          | HF < 1               |
| CLONE X               | 30%                        | HF < 2          | HF < 1               |
| Azuki                 | 30%                        | HF < 2          | HF < 1               |