Open Short Positions
Last updated
Last updated
When opening a MATIC 3x short position, the user deposits 1,000 USDC of deposited assets into Meshswap USDC lending pool.
USDC lending pool deposits allow users to earn deposit interest and MESH rewards
Based on his or her deposit assets of 1,000 USDC, the user will borrow 6,000 MATIC.
Borrowing costs are accumulated for the 6,000 MATIC used at this point.
Borrowed 6,000 MATIC will be swapped for 2,991 USDC in MATIC/USDC pool.
* This rate is calculated based on 1 MATIC = 0.5 USDC, and a 0.3% swap fee will incur.
2,991 USDC acquired through swap are deposited in a USDC lending pool to open a short position.
Before closing short position, the user may receive MESH rewards and deposit interest on 2,991 USDC deposited in the USDC lending pool.
The following rewards and costs apply to users who have completed the short 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 USDC lending pool deposit interest on secured assets 2,991 USDC (3.00% per year), Earn MESH reward.
3) MATIC Borrowing cost for borrowd asset 6,000 MATIC incurs (7.00% per year)
