Opening a DeFi Lease

Step-By-Step Guidelines for Initiating a Defi Lease

Navigate to the Nolus dApp. Once on the platform, connect your crypto wallet to gain access. After connecting, move to the Lease section and select "Lease New" to begin the process.

Opening a DeFi Lease Position

  1. Select your Down Payment asset and specify the number of tokens.
  2. Choose your desired Asset to Lease from the dropdown.
  3. Set your Position Size using the slider. The details of your position, including borrowed amount, asset price, interest, and liquidation triggers, will appear below.
  4. Confirm the parameters and click “Open Position”.
  5. Approve the contract creation.
  6. 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 Lease asset. This sequence ensures a seamless transition from creating the Interchain Account to obtaining the Lease asset through asset transfers and exchanges on the chosen DEX. Once completed, your lease position is opened.