Hedge - Renew a position

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.

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