Open an AUSD Position
To open an AUSD position, follow the steps below:
  • Go to Alpaca's Finance AUSD page
  • Connect to your Web3 wallet (such as MetaMask) and make sure your network is set to Binance Smart Chain. Click here if you do not have the network in your wallet yet.
  • Select your desired collateral pool. (Note that it will only support ibBUSD at time of launch)
  • Click "Open Position"
  • Specify whether you'd like to supply the base asset (e.g. BUSD) or ibToken (e.g. ibBUSD) as collateral
    • If you supply the base asset, Alpaca Finance will convert it into the ibToken for you
  • Enter the amount you would like to put up as collateral
  • Enter the amount of AUSD you would like to borrow
    • You can also click "Safe Max" to borrow the maximum amount of AUSD allowed (with relatively safe parameters)
    • Note that when you take out an AUSD loan, during times of market volatility for your collateral assets, you should monitor the Safety Buffer because if it drops to 0, your position can be liquidated. (Stablecoin collateral is generally low volatility)
  • Click "Supply & Borrow"
    • If this is your first time opening an AUSD position:
      • You must first click "Create Proxy Wallet" and accept a confirmation in your Web3 wallet
      • You may then have to click the green button two more times for ibBUSD & BUSD approval, and accept their confirmations
    • Click "Supply & Borrow" and you should get a pop-up notification in your MetaMask to accept the transaction
  • Wait for the transaction to be processed
  • Once the transaction has gone through, you'll see your AUSD position on the Portfolio page.
Last modified 1mo ago
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