Leverage guide - opening the position

Guide on opening leveraged positions

Head over to https://wagmi.com/trade/leverage

Choose the desired network. At the moment, leverage will be available on Metis and Kava couple of days after Metis leverage launch.

Click long on the desired asset.

Input the desired amount of tokens to long.

In this example, we used 50,000 WAGMI. You can see that we will deposit 1,064 WAGMI to long 50,000 WAGMI tokens which is a leverage of 3,422X.

There is always maximum leverage enabled for opening a position, user is not able to reduce or increase leverage himself.

Please note the fees for opening the position:

Opening fee - fee for opening the position

LTF - Fee applied when opening the position, returned to trader upon closing, or redirected to liquidator in case of position liquidation.

Daily Interest - there is a daily interest in rate on your total position to be paid to liquidity providers. Daily intrest varies from pool to pool.

Deposit - amount of tokens that user is depositing in order to borrow the desired amount for leverage

The sum of all those equals the amount of 1,064 WAGMI.

Once you click borrow, a pop up will happen where you can see breakdown on what you are commiting to:

Once you confirm the transaction with your wallet and position is open, it will appear in Leveraged positions tab.

You can track your leveraged position here:

Wagmi

Leveraged position

As you can see, your timer started ticking from 00:24:00:00. This means, you have enough collateral to keep the position open for 24 hours.

On Wagmi, there are no price based liquidations, only time based. This means, once the timer reaches 00:00:00 and there is not enough tokens as collateral as the coverage, your position will be liquidated.

In order to keep your position open and top it up, click on the wallet icon (2nd icon on the right).

Position top up

Once you click it, another pop up happens: Here you can see if you top up the position with additional 500 WAGMI tokens, the timer will extend for 10 additional days.

Collateral top up

Position time now increased:

In order to close the position, click on the last Icon.

Closing the position

Once you click the button, another pop up will happen:

Position close

Here you can see the profit/loss your position has and how much tokens you will recieve upon position closing.

Click confirm and confirm the transaction with your wallet.

That's it, you successfully opened and closed leveraged position on Wagmi!