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How To Close a Leveraged Position (Step-by-Step)

You have 3 options to close a position:

Sell the NFT Position: You can trade it on a platform like Opensea.io

Close Manually

Step 1: Navigate to the My Dashboard (coming soon) page

Go to the ‘My Dashboard’ page on our platform

Step 2: Connect your Metamask wallet

Click and connect your Metamask wallet that contains the NFT position
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Step 3: Click ‘Close’

Click ‘Close position’ beside the position you wish to close
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Step 4: Click ‘Close Position’ and ‘Confirm’ in your Wallet

Click ‘Close position’ beside the position you wish to close and also in your Metamask wallet when the popup appears
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Step 5: That’s it, your funds will be returned to your Metamask wallet

All funds (collateral + interest earned) will be returned to the wallet and the NFT will be burned.
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FAQ What happens if I close my browser before I get the Close Position confirmation?
  • Don’t worry, all events are stored on-chain. If you completed the Close Position process then you can confirm this by checking your wallet's address transactions on Etherscan at this link: https://etherscan.io/address/[your-wallet-address]
Why did I receive a lower amount of OUSD than what was showing in My Dashboard?
  • The following items will affect your claimed funds when closing a position:
    • Curve exchange fee
    • Current exchange rate of lvUSD/OUSD
    • Debt Repayment (only if your position was negative when closing)

Expired Position

Step 1: Navigate to the My Dashboard page

Go to the ‘My Dashboard’ page on our platform

Step 2: Connect your wallet

Click and connect your wallet that contains the NFT position
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Step 3: Click ‘Claim’

All expired positions will be listed here and you can click ‘claim’ to retrieve the funds
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Step 4: Click ‘Claim Funds’ and ‘Confirm’ in your Wallet

Click ‘Claim Funds’ and also click ‘Confirm’ in your wallet when the popup appears
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Step 5: That’s it, your funds will be returned to your wallet

All funds (collateral + interest earned) will be returned to the wallet and the NFT will be burned.
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FAQ How long do I have to claim my funds after my position is closed or expires?
  • Your funds will be there indefinitely and ready for you to claim when you connect your wallet (that contains the position NFT)

Sell the NFT

Step 1: You can view your position NFT on the My Dashboard (coming soon) page

Go to the ‘My Dashboard’ can click the ‘Details’ link beside your position
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Step 2: Go to Opensea.io

You can use an NFT marketplace like Opensea.io to sell your NFT position.
Connect your wallet to their website and follow their steps to sell your NFT Here.
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NOTE: We do not endorse or have control over Opensea or any other NFT marketplace. As with all platforms in Defi, they have inherent risks and you should always DYOR.
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Archimedes is an experimental protocol and carries significant risks: Smart contract risk, economic model risk, risk that the assets Archimedes introduces and many other types of known and unknown risks. Archimedes' team never provides investment advice. This article is NOT financial advice. DYOR. Participate at your own risk.