Registering top-ups

In order to register collateral top-ups users must first:

1. Provide liquidity on Mero

2. Have an open loan on Aave or Compound

After these conditions are met, follow the steps below to register top-ups:

View Actions

Click "Actions" in the Mero header

Register Action

The Mero protocol will automatically display any loans (for supported protocols) that are open on your connected wallet. If you would like to top-up a loan that is on a different wallet, you can do so by entering the address of that wallet.

Select Action type - Collateral top-up

Continue to the next page and confirm which loan you would like to protect

Select Pool

After confirming which loan you'd like to protect, select the Mero pool you would like to use for top-ups

Enter top-up conditions

Top-up conditions:

1. Health factor: Enter the health factor that you would like a top-up to occur at. Once your loan hits this health factor a top-up will be executed. If you register top-ups at or above the current health factor of your loan a top-up will be executed immediately

2. Single top-up: Enter the amount of your Mero liquidity that you would like to be used per collateral top-up

3. Total top-up: Enter the maximum amount of your Mero liquidity that is allocated to top-ups. So, if you have 0.5 ETH registered for a single top-up and 1.5 ETH registered for total top-up, 3 top-ups can occur in total

4. Priority fee: Enter the priority fee you would like your top-ups to be executed at

5. Maximum gas price: Enter the maximum gas fee you are willing to pay per top-up transaction

After entering all of your conditions, complete the approve and confirm transactions

Confirm top-up position

Confirming your top-up position will deposit some ETH from your wallet into the Gas Bank. ETH held in the gas bank is never used for anything other than paying the transaction fees for your top-ups. Once you close your top-up position, any unused ETH in the gas bank will be returned to your wallet.

View top-up position

Click on the Actions page to view your open position(s). Once your top-up position is open, collateral top-ups will be executed automatically when your defined conditions are met. Users can close their top-up position at anytime. It is recommended that users close their top-up position first before closing their loan that is registered for top-ups.