Cloning an Existing Position

Immediately mint OFD by cloning an existing position.

This is the standard way to obtain OFD against a collateral. Unlike creating an entirely new position, which takes a lot of time, borrowing by cloning an established position can be done immediately. To do so, find an existing position under the "Borrow" tab that is based on your collateral of choice and that is not maxed out yet, i.e. where the borrowed total is below the limit. You can spot such a position by searching for the "Clong & Mint" button. Note the available amount: This shows how many more OFD can be minted by cloning this particular position. When looking for a position to clone, make sure to pay attention to the liquidation price.

Hit "Clone & Mint" to get started

Once you clicked on the button, you will be taken to the next page, where the parameters of this position will be applied.

Mint your new position here

At first, you can choose the amount of OFD you would like to mint. The required collateral given, and you can choose the expiration date. On the right side, you can see the amount of OFD that will be sent to your wallet, how much will be locked in the reserve, and how high the fees are. .

The "Notes" section shows the effective annual interest, the set liquidation price, the current market price of the collateral and the loan-to-value ratio. It also provides a link to the parent position.

Ready to mint your OFD?

Just hit "Approve" after connecting a wallet, confirm the transaction in your wallet and get your new OFD!