Navigate to the Nolus dApp. Once on the platform, connect your non-custodial wallet to gain access. After connecting, move to the Lease section and select "Lease New" to begin the process
Opening a DeFi Lease Position
Choose the position type - long (buy) or short (sell)
Pick your down payment asset and enter the number of tokens
Select the asset you want to lease from the dropdown
Adjust the slider to set your leverage position size
Confirm the parameters and click Open Position
Approve the contract creation
All set 🎊
The opening process involves three main steps. First, a channel is initiated by creating an Interchain Account. Next, assets are moved, including the down payment and loan, to a preferred DEX like Osmosis. Lastly, assets are swapped on the DEX to attain the desired asset. This is the Lease asset in the case of long positions. In the case of short positions, the shorted asset is sold for a stablecoin. The above sequence ensures a seamless transition from creating the Interchain Account to obtaining the desired asset through asset transfers and exchanges on the chosen DEX. Once completed, your lease position is opened
