How to Use AutoHedge
With AutoHedge, you always just deposit stablecoins, and so it doesn't really matter what the stablecoin is paired with in the pair, such as WBNB or ETH etc. Generally a user will just want to park their money where the APY is the highest, so the pairs list gives you the ability to compare the APY and other details of every pair.
2. Select a pair and you'll see the pair page. For example for USDC-WBNB:
Since an AutoHedge position has some revenues and a cost, it shows you the Net APY on the top left. Here, it's 27.59%. This tells you that for every $100 you deposit, you'll make $27.59 in profit and be able to withdraw $127.59 after a year, though the funds are not locked up and can be withdrawn at any time! Note, rates change over time, and the Net APY here is always based on data from the previous 30 days.
3. Enter how many stablecoins (in this case USDC) (highlighted red) you want to deposit and click Deposit (highlighted green)
4. Click Confirm on the MetaMask transaction to approve AutoHedge to use your USDC tokens
5. You'll need to click Confirm again for the 2nd transaction that actually deposits your BUSD.
That's it, congrats! You're now LPing on a DEX and are immune to the bear market 🛑🐻🛑
You can now see your position on the right:
A small % of the deposit was lost in swapping fees during the hedging process, but at any time we can withdraw 18.87 USDC!
- 1.To withdraw, select the Withdraw toggle (highlighted in red)
- 2.Enter how many AutoHedge LP tokens to burn (highlighted in green)
- 3.Hit the Withdraw button
- 4.Confirm the MetaMask transaction
That's it! :)