Open FXD position
Last updated
Last updated
To open an FXD position, follow the steps below:
Go to Fathom DApp.
Select your desired collateral pool in "Available Pools".
Click "Open Position"
Enter the amount you would like to provide as collateral.
Enter the amount of FXD you would like to borrow.
You can also click "Safe Max" to borrow the maximum amount of FXD that can be considered relatively safe at the current moment.
Note that when you take out an FXD loan, during market volatility for your collateral assets, you should monitor the Safety Buffer because if it drops to 0 and lower, your position may be liquidated.
Click "Open this Position"
If this is your first time opening an FXD position:
The first transaction will be the creation of proxy wallet. Only the second transaction will be the position opening itself.
You may be required to approve the collateral transfer before the actual transfer (depending on the collateral type).
Sign and send the transaction in your Wallet.
Wait for the transaction to be processed.
Once the transaction has gone through, you'll see your FXD position in "Your Positions" on the same page below "Available Pools".
