Hedge - Exit a position
Last updated
Last updated
There are several ways to exit your Bumper hedging position depending on whether you’re in a fixed term and whether the value is above or below the price floor.
If you’re within a fixed term, indicated in your position summary by a countdown timer, you can close your position at any point.
Closing your position while in term will return your original asset, irrespective of whether the value is above or below your price floor. You will also forfeit any BUMP token incentives earned during the term. You will be charged a prorated premium, calculated over the period the position was open.
To close your fixed term position follow these steps:
Navigate to the Bumper dApp ensuring your wallet is connected
Select the Market where the position exists that you would like to close
Find the position in hedging Positions summary and click the ‘Close’ icon
In the pop up window you will be shown:
the position amount which you are closing
the estimated premium for the term of the position
the trading fee
your total estimated payout with the relevant fees included
the bond amount which will be returned to your wallet.
you won’t receive any BUMP token incentives for closing a position early
Select ‘CONFIRM’ to open your web wallet and complete the transaction
Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain
Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard
Once your fixed term has ended your options to close the position will depend on whether the position is above or below the price floor. Instead of exiting at the end of your term, you can also choose to renew your position.
To close when above your floor price follow these steps:
Navigate to the Bumper dApp ensuring your wallet is connected
Select the Market where the position exists that you would like to close
Find the position in the hedging Positions summary and click the ‘Close’ icon
In the pop up window you will be shown:
the position amount which you are closing
the estimated premium for the term of the position
the trading fee
your total estimated payout with the relevant fees included
the bond amount which will be returned to your wallet.
your estimated BUMP token incentives for participating in the protocol
Select ‘CONFIRM’ to open your web wallet and complete the transaction
Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain
Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard
To close when above your floor price follow these steps:
Navigate to the Bumper dApp ensuring your wallet is connected
Select the Market where the position exists that you would like to close
Find the position in the hedging Positions summary and click the ‘Close’ icon
In the pop up window you will be shown:
the original position amount in the deposited asset
the claim amount based on your chosen floor in stablecoin
the estimated premium for the term of the position
the trading fee
your total estimated payout with the relevant fees included
the bond amount which will be returned to your wallet.
your estimated BUMP token incentives for participating in the protocol
Select ‘CONFIRM’ to open your web wallet and complete the transaction
Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain
Once completed, you’ll see a confirmation of your transaction pop up, and the position will be removed from your dashboard
