gOM MANTRA Army. Yesterday, we announced our partnership with Nolus and the $OM integration to their lease long feature. Today, we’re sharing a thorough breakdown for those looking to learn how the platform works, and how you can use it to long $OM.
Please note, this article should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
1. Swapping and Bridging Assets
The first step to long $OM is to to bridge assets in order to use Nolus dApp. You will need:
• Some $NLS to pay the gas fees.
• A minimum of $40 USD of USDC to lease long $OM
Please note that for the time being you can’t bridge $OM directly on Nolus.You will need USDC.You can do it directly on your Keplr. For that, you have to swap any asset for USDC on Nolus, and then for $NLS on Nolus.
An alternative is to go on Osmosis and buy $NLS and USDC.
Next, go to your Osmosis portfolio, click on the withdraw button, then, send your $NLS on Nolus.
Now, you can bridge your USDC. Head to Nolus dApp, click on asset, connect your wallet, and click on Transfer.
The base network on “Send” should be Osmosis. Look for USDC in the asset list, input at least 40 USDC (there is a minimum of $40 USD to lease long assets on Nolus), and click on receive.
Once your wallet is full of $NLS and USDC on Nolus, you’re ready. Click the Lease button and then Lease New.
Now, we’ll take a look at how you can go long on $OM on Nolus. Llease long works:
1. The asset you will use as collateral for the lease-long.
2. Amount of down payment: The amount of collateral you are depositing.
3. Asset to lease: The asset that you are lease-longing.
4. Position size: The amount of asset to lease that you will get. The higher the amount, the higher the liquidation price, and vice versa.
5. Borrow: Amount borrowed.
6. Interest: The monthly interest rate paid.
7. Liquidation trigger: Price at which the position will incur partial or full liquidation.
It’s important to note that this can result in the loss of your assets. It’s a debt that needs to be repaid with interest charged at a monthly rate.Once you’ve reviewed all the parameters, open the position. You’ve now just opened your first $OM lease long position. You’ll see it in just a few seconds.
From this page, you will be able to follow the price of $OM, see your PnL, the health of your loan, as well as the amount of debt and the interest due. Moreover, you can see the total amount of your long position and basic information about it.Repaying your lease debt allows you to fully settle the outstanding debt using USDC available in your wallet while keeping the entirety of your leased asset. This strategy allows you to fully claim the underlying asset.The Close feature provides a straightforward way to manage your lease repayments using only the assets within your lease position. This method eliminates the need for additional external assets, enabling a more efficient repayment process directly from your parked holdings.
You are all ready to long lease $OM on Nolus.
About MANTRA:
MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
