Beracana
  • Overview
    • About Beracana
    • Why Lend on Beracana
    • Why Borrow/Leverage on Beracana
    • CANA Token
    • How Beracana Works
      • Lending/Supplying
      • Borrowing/Leveraging
      • Strategy
      • Health Factor
      • Liquidation
  • Guide
    • Getting Started
    • Lending/Deposit Assets to Receive canaHONEY
    • Withdrawing Lent Assets
    • Opening a Position
    • Closing a Position
    • View Your Position
    • Rewards
    • Interest Rate Model / Utilization
    • Add/Remove Extra Collateral
    • Liquidated Positions
  • FAQs
    • Frequently Asked Questions
  • Double Chance Lotteries
    • Introduction
    • Overview
      • Primary Lottery Mechanics
      • Second Chance Lottery Mechanics
    • Security and Decentralization
    • Conclusion
  • Contract Addresses
    • Addresses
  • Tokenomics
    • Introduction
  • Twitter
  • Discord
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  1. Guide

Closing a Position

To Close a Position:

  1. Repay Borrowed Assets: You need to repay the borrowed amount to close your position. Go to the "My Positions" tab and close your position. If your borrowed amount + yield generated is enough you do not need to pay extra and you will receive your profit.

  2. Withdraw Collateral: Once your debt is cleared, you can withdraw your collateral.

  3. Confirm Transactions: Approve both the repayment and the withdrawal transactions in your wallet.

Make sure your collateral and borrowing positions are healthy before withdrawing to avoid liquidation risks.

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Last updated 8 months ago