The Market Close feature on Nolus App enables borrowers to use their assets in their DeFi Lease position for partial or full repayments, eliminating the need for external assets. This guide will provide a comprehensive step-by-step walkthrough of the feature
Partial Debt Repayment
Partial Debt Repayment
To liquidate a part of your lease position to offset a part of your debt, follow these steps
Click on Lease in the left sidebar
Find your desired lease position and click on Close
A pop-up appears. Choose how much of the asset you wish to liquidate to cover some of your debt. NOTE: The assets left in your lease position will be displayed next to Remaining
Review the transaction details and press Close
A confirmation pop-up will appear in your wallet. Approve it
Full Debt Repayment
Full Debt Repayment
To liquidate assets and cover your entire debt
Click on Lease in the left sidebar
Find your desired lease position and click on Close
In the pop-up, select Outstanding Debt. The due amount will autofill. NOTE: View the remaining assets in the lease position next to Remaining
Review the transaction details and press Close
A confirmation pop-up will appear in your wallet. Approve it
After the previous transaction is executed, you can collect the remaining assets (visible on the left side) by pressing Collect
A confirmation pop-up will appear in your wallet. Approve it
Partial Close
Partial Close
To liquidate assets, fully cover your debt, and divide the remaining difference
Click on Lease in the left sidebar
Find your desired lease position and click on Close
A pop-up appears. Choose how much of the asset you wish to liquidate (must be higher than the Outstanding Debt). NOTE: You will see the remaining assets in the lease position next to Remaining
Review the transaction details and press Close
A confirmation pop-up will appear in your wallet. Approve it
After the previous transaction is executed, you can collect the remaining assets (visible on the left side) by pressing Collect
A confirmation pop-up will appear in your wallet. Approve it
Full Close
Full Close
To liquidate your entire lease position to cover the outstanding debt in full and receive the remaining assets in USDC in your wallet
Click on Lease in the left sidebar
Find your desired lease position and click on Close
In the pop-up window, click on 100% under the input field
Review the transaction details and press Close
A confirmation pop-up will appear in your wallet. Approve it. NOTE: The remaining USDC will be sent directly to your wallet and the position will be closed
Limitations to Be Aware Of
A transaction will fail if the liquidation sum is under $15
A transaction will not be successful if the liquidation reduces the position size to less than $15