The “Market Close” feature on Nolus dApp 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
To liquidate a part of your lease position to offset a part of your debt, follow these steps:
- Navigate to the Nolus dApp
- Click on "Lease" in the left sidebar
- Find your desired lease position and click on “Close”
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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
To liquidate assets and cover your entire debt:
- Navigate to the Nolus dApp
- 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
To liquidate assets, fully cover your debt, and divide the remaining difference:
- Navigate to the Nolus dApp
- 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
To liquidate your entire lease position to cover the outstanding debt in full and receive the remaining assets in USDC in your wallet:
- Navigate to the Nolus dApp
- 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.