Opening a Position

Before opening a position, be sure to use Citrea's Faucet to get cBTC.

The first time you connect your wallet to the Nectra App, you will be required to sign and accept the user agreement. Click the "Sign to Accept" button to proceed.

After accepting, navigate to https://app.nectra.xyz/borrow to open a new position.

You will see several fields to input your values of choice, starting with collateral.

You can choose your amount of cBTC to deposit by typing the value in the field, using the slider, or clicking "MAX".

NOTE: You will not be able to deposit more than your cBTC balance. When using "MAX", $20 worth of cBTC is left in your wallet to handle gas fees. To choose your debt amount, use the next field:

You can choose your amount of nUSD to borrow by typing the value into the field, using the slider, or clicking "MAX".

NOTE: You will only be able to borrow $50 or more nUSD up to the max LTV of 83.3%.

You can choose what interest rate you are willing to pay for your loan; simply adjust the slider to a value of your choice.

If you choose too low of an interest rate, your position may be at risk of redemption.

Once you have entered your chosen values, you can review your amounts and open the position. The page will reload when the open is confirmed, and the position will be visible at the top of the page as follows.