Managing Your Trove
This page will explain to manage your Trove.
After depositing collateral and borrowing YUSD, the Trove section should appear. It shows Trove stats such as Total Collateral and Total Borrowed. It also shows your Trove's Collateral Ratio and Safety Rating. Remember to keep the collateral ratio of your Trove above 110% to avoid liquidations.
- Total Borrowed - Your total amount of YUSD borrowed. You must pay back this amount to close your Trove.
- Trove Safety Rating - A rating between 0 and 100 that represents how safe your Trove when factoring in the weight in stablecoins. The higher the number, the safer your Trove is deemed. If a large portion of your Trove is in stables, the safety rating is higher.
- Collateral Ratio - The Total Collateral divided by Total Borrowed (must be over 110% to avoid liquidations). The higher the collateral ratio, the safer your position.
If you ever want to exit your position, make sure that you have enough YUSD to return the Total Borrowed amount and click the Close Trove button. To get additional YUSD to close your Trove, you can purchase YUSD on Curve or Trader Joe to get the additional YUSD. Learn how to buy YUSD on How to get YETI/YUSD.
When the bar is green and filled like the image below, it means your Trove's collateral ratio is high and not close to the minimum collateral ratio.
When the bar is red and not filled, it means your Trove is less safe and is in a closer position of getting liquidated.
Clicking the Close Trove button will open a modal that will allow you to reclaim your collateral. Repay the borrowed YUSD amount and check the two statements to close the Trove. Remember that you will need enough YUSD in your wallet to repay your YUSD debt.
You can always manage your Trove on the Borrow page! If you ever need to adjust your collateral amount or borrow more YUSD, you can do so easily with the same process highlighted in Adjusting Your Trove.
Last modified 1yr ago