Close/Partially Close a Leveraged Yield Farming Position
Last updated
Last updated
To close or partially close a leveraged yield farming position, follow the steps below.
Go to the Portfolio page
Connect to your wallet (such as MetaMask). Make sure your network is set to intended chain (i.e. BNB chain, Fantom)
Click Close on the position you want to close or partially close
Select Close Your Entire Position in the top-left drop-down menu
You will have two options:
Minimize Trading: We will convert the minimum required amount of tokens into the borrowed token to pay back the debt and return the remaining assets to you. This can potentially save on trading fees and price impact
Convert to [the Borrowed Token]: Your entire position will be converted to the borrowed token and returned to you after the debt is paid
You can review all the relevant information, such as price impact and the approximate value you will receive, before closing the position
To execute the transaction, click Close Position
After clicking Close Position, 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 should receive the base tokens back in your wallet
Select Partially Close Your Position in the top-left drop-down menu
You will have two options:
Minimize Trading: We will convert the minimum required amount of tokens into the borrowed token to pay back the debt and return the remaining assets to you. This can potentially save on trading fees and price impact
Convert to [the Borrowed Token]: Your entire position will be converted to the borrowed token and returned to you after the debt is paid
Input what percentage of Position Value you would like to close by using the slider or entering in a number
Input how much of the closed amount you would like to use for debt repayment by using the slider or entering in a number
You can adjust the slider and watch the leverage level (red box) until the desired leverage is reached
You can review all the relevant information, such as price impact and what you will receive, before closing the position
To execute the transaction, click Close Position
In the event that your position's debt size goes above the allowed risk threshold, it can be liquidated. Once that happens, the liquidated position will be moved into the "Liquidated Position" tab. You can also select "Click to view" to see the TX details on BSCscan.
The liquidation fees from our bot go to buyback and token burn of ALPACA. So if you're holding ALPACA, you can feel better knowing at least your tokens are becoming more valuable if you happen to get unlucky that one time. 😆
Please note that if your position is liquidation, the position value will be converted into base tokens (BUSD or BNB). Part of it will pay back your debt, accrued interest, and the liquidation fee. Then, you'll receive the remaining tokens in your wallet.
