How to open your Multiply AAVE Position
The first step to open a Multiply AAVE position in Oasis is to head to https://oasis.app/multiply and connect your wallet.
After connecting your wallet, choose the asset you're interested in opening a vault with. After selecting it, you will see the image below, where you will be asked to create a Smart DeFi Account. You can learn more about Smart DeFi Account and its features in this article https://kb.oasis.app/help/what-is-a-smart-defi-account.
Create Smart DeFi Account
While creating a new Smart DeFi Account, you can choose your Liquidation Price or Loan to Value. Depending on your personal preference, you can choose to set your position by looking at either of the stats and adjusting the slider.
After choosing the initial values of your position, you will be asked to Open Multiply Position; you can still edit your post before the creation of the new contract by clicking on
"Back to Editing"
The final step to creating the Smart DeFi Account is to confirm the transaction in your wallet. On the right side of the screen, you will see a detailed breakdown of your position, order information, and the fees to be paid.
Position information and fee breakdown
How to manage your Multiply AAVE position
After creating your Smart DeFi Account and your initial position settings, you can manage it from the Overview tab of your Vault. On the menu on the right, "Manage Multiply Position" there's a slider to adjust your risk. After changing it to your preferences, click on the "Adjust Risk" button, and finally, accept the transaction in your wallet.
There are other ways to manage your Vault; in the dropdown menu, you will find the "Adjust" button. In this menu, you can choose to manage your Collateral, your Debt or close your Vault.
1. Manage Collateral: In this case, you can adjust your position by depositing more collateral from your address or withdrawing some of the collateral. If you withdraw collateral, your Loan to Value will get closer to the Liquidation Threshold, meaning your Liquidation Price will be higher, and your position might be at risk. Please monitor it when managing your position.
2. Manage Debt: This alternative let's you manage your position by borrowing more debt or paying back USDC. By Borrowing debt, your Loan to Value will increase, leaving your position closer to Liquidation; by paying back debt, your LTV will be reduced and making your position safer. You can monitor these values on the screen before confirming any changes to your position.
How to close your position
To close your AAVE position, you should head to the Overview tab, and choose
Close position to USDC. Your collateral will be sold to pay back your outstanding debt, and the remaining USDC will be sent to your address. On the menu at the right, you can see the full breakdown of the order information and fees to be paid.