Open a Position

Step-by-step guide to opening a position on JPEG'd

Users can open a position from the JPEG'd Dashboard on the dApp. .Borrowing is easy and can be done in a few simple steps. Watch the tutorial, or follow the steps below.

https://youtu.be/Ym6sCCDNtdkyoutu.be

1. Select the collection you want to use as collateral from the collection dropdown menu

The Dashboard shows you your available assets to borrow against and your positions.

2. Select the NFTs you want to use as colleteral

When selecting NFTs, the action button will be activated, showing all the actions that can be taken with the selection.

3 Click the "BORROW" button in the action bar

4. Choose the currency and amount to borrow

It's also possible to opt-in for liquidation insurance. Please note that for borrowing against Cryptopunks, they need to be first deposited in the escrow contract before they can be used as collateral. The deposit transaction will queue up from the modal and borrowing will be enabled once all selected cryptopunks have been transferred.

Confirm you borrow

5. You have now opened positions on JPEG'd and have been taken to the borrows tab from where you can manage your borrows.