Assets
Last updated
Last updated
Sweet, sweet assets.
On the Assets page, you can do everything that your inner Degen wants to do. Here, you can see your assets, you can feel your assets, but mainly it's everything assets. This is where you manage your assets and trading strategy; deposit, borrow, long, short, charting, all the good stuff.
It's the single dashboard for your entire Degen portfolio: Based!
Each row shows the information for that specific asset for your Degen Account, and each transaction updates the interface. Pretty straightforward, but here you go:
Asset: Shows the assets that are tradable. All the assets that you can borrow will also show the borrow APY underneath it.
Balance: Shows you the balance of the assets you hold in your Degen Account. The main number is the nominal value (number of tokens), with the dollar-value below it.
Farmed: This will show you the assets you have deployed in farms/pools, with similar values to the Balance.
Borrowed: The assets you have borrowed, with the first number being nominal value, and the second number as dollar-value.
Trend: A graph with the price-action over the last 24 hours. This beauty is clickable, even if it doesn't show a trend, which allows you to chart out Technical Analysis using TradingView.
Price: And last but not last, the price of the asset in dollars.
Aaand... action!
The overview of all the assets is nice enough, but the actions are what allow you to go big or go home. In this column, you will find all the actions that you'd expect, and some that you didn't. When you perform any of these actions, you interact with your Degen Account. Each interaction will require a transaction and will be followed up with an update of your interface.
Basically: when you trade, your portfolio changes - weird how that works.
During this time, your Degen Account has a debt. This debt is denominated in the token that you borrow. It also accrues interest, again, in the token that you borrow. This means that when you decide to pay back the loan, it will have increased compared to when you borrowed the funds. The interest will accrue automatically, in real-time, and will be added to the debt.
A practical example of this is that if you expect BTC to appreciate in price, you can swap your debt from BTC to USDC. Your loan will then be denominated in USDC, instead of BTC. If BTC does indeed increase, your loan will remain in USDC.
You can do the reverse if you expect BTC to crash. In that case, you can debt-swap your USDC into BTC. If BTC crashes by 50%, your debt does too, making it cheaper to pay off. When everyone runs for the hills in the chaos, you are cashing in that lambo.
We know that withdrawing has a few requirements, but these all play their role in keeping DegenPrime healthy and operational so that you have a platform you can call home.
But true Degenerates? Their only way out is with profits or in a body bag (liquidations).
Power: Shows the for that asset. It tells you how much you can borrow against 1$ of collateral of that asset.
This is straightforward. When you collateral, you fund your Degen Account. Your deposits are sent to your Degen Account address, which you can find in the top-right of the interface, and you can see the assets in your Degen Account on-chain.
Allows you to assets in your Degen Account. Crazy, right? You can only swap assets that you hold in balance with this action, and you can swap it to any of the integrated tokens that you see in the list.
If you still have room to go more Degen, you can more capital. By borrowing, you take out a loan in your Degen Account, a.k.a. debt. The funds you borrow are, similar to deposits, sent to your Degen Account and visible on-chain, all in spot. These funds add to the total value of your Degen Account and are yours to use within your trading strategy.
This is the opposite of borrowing, it's the debt. When you repay your debt, you will be required to pay it back in the same token as you borrowed. So if you were looking to make a quick profit by manipulating prices, tough luck.
If you want to repay a loan, you need the assets in your balance. By repaying a loan, you stop the interest from accruing, and you can plot your next move or .
The function is unique to DegenPrime. As the name suggests, instead of swapping assets, you are swapping debt. This can only be done from and to borrowable assets, the ones with a borrow APY. For example, if you have a loan in BTC, you can swap this loan to USDC with the click of a button (after you insert how much BTC to debt-swap).
And last but not least: collateral, a nice side-benefit to any trading strategy. When you want to cash in some profits, this is where you'll do it.
Before you can withdraw any collateral, you will need to initiate an intent to withdraw. A is forced on every action that removes funds from DegenPrime. A harsh but necessary feature of DegenPrime to protect our users' funds.
After the time period has ended, you can execute the withdrawal. Do note, that you will have to have all your loans covered. Only then will the let you pass. You also need to pass the so we can be sure Diamond Hands will get their loans back.
