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

Summary:

What You’ll Need

Use the Open Position page ‘Build Your Position’ to calculate how much OUSD and ARCH you’ll need:
  1. OUSD - This is the collateral deposit that you will earn a high leveraged yield on. You can purchase OUSD on these platforms: Curve.fi, OUSD.com or 1inch.io
  1. ARCH Token - To buy the leverage needed to get a high yield you will need to provide ARCH token. You can purchase ARCH on Uniswap Here.

Opening a Position

Step 1: Go to Open Position (coming soon) page & Check Leverage Availability

Go to the ‘Open Position’ page on our platform and check that there is Leverage Available.
You can also check the current price of Leverage (lvUSD):
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Step 2: Connect your wallet

If needed you can create a new MetaMask wallet by following these steps Here
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Step 3: Enter the principle (OUSD) amount

This is the amount of OUSD collateral you want to Deposit to open your position
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Step 4: If needed, buy more ARCH or OUSD

If you do not have enough OUSD or ARCH to open the position, you can buy OUSD on Curve.fi and ARCH on Uniswap. You’ll need ARCH to buy the leverage for your position. Learn more about that Here.
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Step 5: Click the Approve ARCH button

Your Metamask wallet will open and you will need to click ‘confirm’ in your wallet. Note: if you already approved that amount (or higher) of ARCH in the past then this button will be disabled and you won't need to approve it again

Step 6: Click the Approve OUSD button

Your Metamask wallet will open and you will need to click ‘confirm’ in your wallet. Note: if you already approved that amount (or higher) of OUSD in the past then this button will be disabled and you won't need to approve it again

Step 7: Click the Open Position button

Your Metamask wallet will open and you will need to click ‘confirm’ in your wallet
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Step 8: You’ll get a popup Confirmation window

Once the position has been created and the NFT minted you will see a confirmation window with your position details
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Step 9: Monitor it on the My Dashboard (coming soon) page

You will be able to monitor and close your position from the My Dashboard page
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FAQ Is my position “Locked” for 370 Days?
  • No. You can close the position at any time (as long as there are enough funds to repay the debt). If you don’t manually close the position it will unwind itself naturally after 370 days and the funds can be claimed from the platform after that date.
What happens if I close my browser before I get the Open Position confirmation?
  • Don’t worry, all events are stored on-chain. If you completed the Open 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]
What if I Approved an amount of OUSD or ARCH but now I want a larger position?
  • You can change the OUSD amount in the ‘OUSD Principle’ field. This will recalculate how much OUSD and ARCH needs to be approved. If they are higher than the previously approved amounts then the Approved buttons will be re-enabled and you can click them again.
Learn how to close a leveraged position here:
⏏️How To Close a Leveraged Position (Step-by-Step)
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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.