Metronome’s latest upgrade ‘Auto Repay’ enables users to unloop positions with the click of a button.
Expanding on the simplicity and efficiency of Smart Farming, Metronome is now happy to introduce Auto Repay, our latest feature that enables users to unloop their positions effortlessly. With Auto Repay, users can easily manage their positions with the click of a button.
What is Auto Repay?
Auto repay is Metronome’s version of unlooping a position, enabling users to repay with ease. If a user wants to unloop their position, they can input the collateral assets they intend to use for repayment (the corresponding dollar value is displayed). Upon doing so, users will be shown their anticipated stats, such as health factor, after repayment. Once users click “Repay”, a transaction will be executed and then confirmed in the user’s wallet with the newly updated position displayed.
You can perform Auto Repay by doing the following:
1. Navigate to the Metronome application.
2. Hover over your chosen synth asset and click “Repay”.
3. Next, select how you would like to repay, in this case, we will be using “Auto Repay”.
4. Here you will be able to see your outstanding position, choose your collateral, and set your slippage tolerance.
5. Once you are comfortable, hit “Repay” and confirm the transaction.
6. Now you will be able to see your updated stats and health factor on the dashboard.
For more information, please visit the Metronome docs.