Hedge - Renew a position
Last updated
Last updated
Once a protection position has ended, it is normally either closed or claimed, however, you can choose to renew it for a further period of time. The BUMP tokens which were bonded when you opened your original position will continue to be used for your bond on your renewal position.
Navigate to the dApp and ensure your wallet is connected
Select the Market you would like to renew the position in
Find the position in the ‘Positions’ section
Select the ‘Renew’ icon
In the pop-up you will see the amount you’re renewing
You can then adjust your floor. This is the price that your protection engages
Then choose your renewal term. This is how long your position will be open for.
Below you will see a summary of:
your estimated premium
the BUMP token bond that remains bonded to your position. Your bond is returned when you exit your position.
the trading fee for renewing your position
an estimated incentive paid in BUMP tokens for using 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 your renewed position in the ‘Position’ section.
