To open a margin position on Nolus, start by navigating to the Nolus app and connecting your non-custodial wallet, such as Keplr or Leap. Once connected, use the left-hand navigation menu to access the "Margin" section. Click on the "Open Position" button to begin the process.
You’ll be directed to a new page with a form to configure your position. First, choose the type of position you want to open — either Long (Buy) if you expect the asset to increase in value, or Short (Sell) if you believe the asset's price will decrease. Next, select the asset you’ll use as collateral (e.g., USDC). Your available balance will be shown, and you can enter the amount you want to commit as your deposit.
Then, choose the asset you want exposure to (e.g., OSMO) from the dropdown menu. Adjust the leverage slider to set the size of your position, which determines how much you'll be borrowing in addition to your collateral. As you adjust the parameters, transaction details such as the total position size, estimated interest, liquidation trigger, and price will be displayed in real time for review.
If everything looks correct, click "Open Position" and confirm the transaction in your connected wallet. The estimated processing time is around two minutes.
Behind the scenes, the process begins by creating an Interchain Account, which establishes a secure execution channel. Your collateral and borrowed funds are then transferred to a DEX, such as Osmosis. If you're opening a long position, the borrowed funds are used to purchase the asset in your margin position. For short positions, the borrowed asset is sold for a stablecoin. This seamless process ensures that your margin position is properly opened and reflects your chosen parameters.
Once confirmed, your position will be live and visible within the Margin section of the app.