Adjusting a Position

See how you can make adjustments to your positions.

Once you are the proud owner of a position whose cool-down period has passed, you can start to adjust it. You can adjust the outstanding amount, the amount of the deposited collateral, and the liquidation price.

To start adjusting your position, head over to the "My Positions" tab. Once there, you can see your existing position(s) in the middle of the page. If you don't see your position here, make sure that the wallet that originally created the position is connected. This is crucial: If no wallet or any other wallet is connected, your position will not show up here. Here, you can manage each position.

If you have just proposed a new collateral type, note that you haven't actually minted any OFD yet!

During the adjustment process, you can change a few parameters: The amount, the collateral in the position, and the liquidation price. If you want to mint new OFD, you can increase the amount. Without an increase in collateral, the liquidation price must be increased. This makes your position riskier, which is not encouraged: Instead, if you want to mint more OFD, consider adding more collateral. Note that you will not get the fee back, but you will get the reserve amount back - if the system didn't have to cover any losses.

When paying back your loan, meaning decreasing the amount, you need to have the corresponding amount in your wallet.

If you would like to add more collateral to achieve a lower liquidation point, you can also do this here. There is no limit for how much collateral you can add.