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.