How to redeem syUSD

Closing a Position

Closing your position on Synnax is straightforward and offers flexibility based on your needs.

Quick Close:

• Navigate to your position on the Portfolio page.

• Click “Manage”, go to "repay mode" and select “Close Position.” button in the bottom of the page

• The system will automatically repay your debt using syUSD from your wallet and release all collateral back to your wallet.

This is the easiest option for users who want to close their position in one step. Ensure you have enough syUSD in your wallet for the repayment.

Manual Repay and Redeem Process

For users who want flexibility, the manual process allows you to partially repay your debt and redeem collateral in proportions of your choice. Here’s how:

1. Go to Repay Mode: Navigate to your position, click “Manage”, and switch to Repay Mode.

2. Customize Your Action:

• Specify how much syUSD to repay.

• Select the proportional amount of collateral you wish to redeem.

3. Confirm Your Action: Click “Repay and Redeem Collateral” to finalize the transaction.

This process is ideal for users who want to partially manage their position, such as repaying 50% of the debt while redeeming 50% of their collateral, making incremental adjustments, or repaying a portion to improve the health of their position.

Important Note: Always monitor your position’s health indicator. A healthy position ensures you can redeem collateral safely without risking liquidation.