Stack Dashboard (Deleverage)

Welcome to your dashboard, where all your hard work in the kitchen has been assembled into one delicious meal to enjoy. View the various Stacks you've got cooking on the griddle and keep an eye on the $sMORE you've got in the fryer. When you're ready, deleverage your stacks and enjoy the fruits of your labor.

The dashboard allows you to view and manage details on your borrow and leverage positions, including your total amount of collateral deposited, total amount of $MORE borrowed and your total $MORE staked on the protocol.

Similar to borrowing and leverage, positions cannot be open for less than 100 MORE.

Deleverage transactions will unwind until approximately 100 MORE remains in the position which will need to be repaid in full to close the open position.

Debt Positions

From the positions section you can see your active borrow and leverage positions. Here you can see each position’s health, liquidation price, initial collateral deposit, and amount borrowed or leveraged.

This is where you'll come to repay or deleverage your positions.

Deleverage

Users can deleverage their position at any time they see fit.

Users looking to claim yield from a leveraged position i.e. leveraged $USTB, would also use the deleverage function.

Leveraged positions can also be closed by repaying the amount of $MORE owed to the protocol, skipping this function completely. The benefit to the deleverage function is it allows users to close their position even if they do not have all of the $MORE required to pay back the loan. Because of the multiple steps, deleveraging is a more gas-intensive process than repaying.

Begin the deleveraging process by pressing on the “Deleverage” button.

This opens a page which will allow you to decide how much collateral you wish to remove and how much $MORE will be required to do so.

Leveraged positions can be closed without manually repaying or holding any $MORE. During deleverage, collateral assets are sold for $MORE, automating the repayment process all within one transaction.

The current asset price and liquidation price is shown on this page as well as the market parameters that were set when you opened the position.

Adjust the sliders accordingly to reduce or fully repay your position and press deleverage. Contract approvals will popup and after they are approved and you will have successfully deleveraged your position.

Similar to the initial leverage transaction, the deleverage process happens all in one transaction.

1. The user selects how much collateral they want to reduce or withdraw, which calculates the required $MORE to repay.

2. Stack releases the collateral (Tangible UK Baskets token above) and swaps them for $MORE (keep in mind asset prices and slippage can impact the unwind process.)

3. The $MORE tokens are deposited back into Stack to repay the released collateral.

4. The user receives whatever collateral remains after the transactions. This remaining value is the profit produced by the leveraged position.

As a result of the 100 MORE position minimum, an amount greater than 100 MORE will remain in the position which must be manually repaid.

The difference between the initial collateral deposited and the remainder after deleverage is the profit for the position which can be claimed in the "Repay / Remove" process.

Repay

Repayment is the easiest way to close a position and can be done at any time.

Leveraged positions can be closed by repaying the amount of $MORE owed to the protocol. This removes the risk of expensive (gas intensive) transactions failing, as is possible during the deleverage process.

To replay your borrow or leverage positions press the “Repay” button.

This opens a page where you'll decide how much $MORE you want to repay. Adjust the sliders accordingly. Users will also have the option to remove their remaining collateral/interest earned in this step based on the remaining $MORE that's been repaid.

Unstake $sMORE

$sMORE can also be quickly unstaked from the dashboard to collect $MORE staking rewards.

This frame shows how much $sMORE you have in your wallet available to be unstaked.

In order to claim accrued $sMORE yield, simply press “Unstake,” input the desired amount of $MORE you want to claim and follow the pop-ups to complete the transaction.

🍽️

Time to pull up a chair and enjoy. Hopefully you've made enough for that lambo. If not, get back in that kitchen and keep cookin!