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Create Leveraged Long Positions

as of 18/06/2023

Leverage is the act of using a loan to buy more of an asset, therefore increasing exposure and potential profits (or losses).
To leverage a long EGLD position, you can supply EGLD and take USDC as a loan. You can then use that USDC to buy more EGLD. If the price of EGLD were to rise, a fragment of the EGLD bought could be sold to pay off the USDC loan, therefore pocketing the additional EGLD as profit.
Step by step guide on how to create a long position
I) First of all, Connect Your Wallet(1) and then select the EGLD Money Market(2).
II) "Supply" EGLD.
III) "Activate it as Collateral".
IV) "Take a Loan" in the form of USDC.
V) Go to "xExchange" and sell your USDC for EGLD.
VI) Wait for the EGLD price to rise and buy back USDC with EGLD. 
VII) Go to the Hatom Lending Protocol, "Repay your Loan", and pocket the difference.

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Last modified 5mo ago