> For the complete documentation index, see [llms.txt](https://elysia.gitbook.io/elysia-perps/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://elysia.gitbook.io/elysia-perps/getting-started/deposit.md).

# Deposit

To trade, you first move collateral into Elysia Perps. A deposit is an **on-chain transfer to the protocol's smart contract**. Your collateral is held in the protocol's smart contract. You can request a withdrawal at any time. Each request is reviewed within 48 hours.

> ⚠️ **Deposit on Ethereum mainnet only.** Deposits go to the custody contract on **Ethereum mainnet (chainId 1)**. Sending from another chain or an L2, bridging in, or sending a look-alike token will **not** be credited and generally cannot be recovered. Verify the network, token, and contract address on [Network & Contract Addresses](/elysia-perps/reference/network-and-contracts.md) first.

## Before you start

* You can only deposit a **supported collateral token**. The app shows which token(s) are accepted. Sending any other token to the contract will not credit your balance.
* Your deposited balance is shown in **EL$**, an internal $1-denominated unit. How the token converts to EL$ is covered in [Collateral](/elysia-perps/getting-started/collateral.md).

## How to deposit

1. **Enter an amount.** Choose how much of the collateral token to deposit. Amounts are accepted to **6 decimal places**. The input is limited to 6 decimals so nothing is silently rounded off.
2. **Approve (first time).** The first time you deposit a given token, your wallet asks you to *approve* the contract to move that token. This is a standard ERC-20 step and only needs to be done once per token (or when you raise the allowance).
3. **Confirm the deposit.** Your wallet sends the deposit transaction on-chain. This costs gas.
4. **Wait for confirmation.** The protocol watches the blockchain and credits your balance once the transaction is confirmed to a safe depth. This usually takes well under a minute, but depends on network conditions.

```
Your wallet ──approve──▶ ──deposit (on-chain)──▶ Smart contract (holds funds)
                                                       │ confirmed
                                                       ▼
                                            Balance credited as EL$
```

## Confirmation timing

The protocol waits for a number of block confirmations before crediting a deposit. This protects against rare chain reorganizations. Until then, your transaction may show on-chain but not yet appear in your balance. No action is needed; the credit happens automatically once confirmed.

If the service or your connection drops mid-process, deposits are designed to be **credited exactly once**: you won't be double-credited, and a confirmed on-chain deposit will not be lost.

## Where your deposit goes

Today, Elysia Perps runs a single kind of trading (perpetual futures), so every deposit becomes **Perp margin**: collateral backing your perpetual-futures positions. There is nothing to choose at deposit time.

A separate **Spot** balance (a second bucket used for spot orders, with the ability to move funds between the two off-chain via a *Transfer* action) is **planned** for when spot trading launches. It is **not live yet**; until then, your full deposited balance is simply your perp margin.

## Withdrawing later

Whenever you want your tokens back in your wallet, see [Withdraw](/elysia-perps/getting-started/withdraw.md). Withdrawals return the same token at the same fixed rate your deposit was credited at.

> **A note on precision.** Because balances are tracked to 6 decimals, depositing through the standard app is always lossless. If you bypass the app and call the contract directly with more than 6 decimal places, the extra precision is truncated. Use the app to avoid this.


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