Open Long Positions

Detailed procedures for opening long positions

Step 1

To open a MATIC 3x long position, the user deposits 1,000 USDC of deposited assets into a lending pool of Meshswap USDC.

The user can earn interest on USDC lending pool and MESH rewards.

Step 2

The user will use 3,000 USDC based on his or her deposit assets of 1,000 USDC. Borrowing costs are accrued at this time for the 3,000 USDC borrowed.

The borrowed 3,000 USDC will be swapped for 5,982 MATIC in the MATIC/USDC pool.

* This rate is calculated based on 1 MATIC = 0.5 USDC, and a 0.3% swap fee will incur.

Step 3

5,982 MATIC acquired through swap are deposited into a lending pool to open long positions.

Before closing long position, the user may receive MESH rewards and deposit interest on 5,982 MATIC deposited in the MATIC lending pool.

The following rewards and costs apply to users who have completed the long position deposit as described above.

1) Earn USDC lending pool deposit interest on my asset 1,000 USDC (3.00% per year), Earn MESH reward

2) Earn MATIC lending pool deposit interest on position asset 5,982 MATIC (2.00% per year), Earn MESH reward.

3) USDT Borrowing cost for borrowed asset 3,000 USDC incurs (6.00% per year)