Create Leveraged Long Positions
as of 10/29/2022
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.
I) First of all, connect your wallet(1) and then select the EGLD Money Market(2).
II) Supply EGLD.
III) Enable your EGLD as "Collateral".
IV) Take a loan in the form of USDC.
VI) Wait for the EGLD price to rise and buy back USDC with EGLD.
VII) Go to the Hatom Protocol, repay your loan, and pocket the difference.