Securing Your Aave Positions on Instadapp — Powered by Gelato
As a follow-up to our Cono Finance walkthrough, today we will be demonstrating how to secure your Aave Positions from liquidation using Instadapp.
Here is the active Aave Position that we will be securing for reference:
STEP 1: Head over to https://defi.instadapp.io/import-position to begin importing our Aave Position.
If this is your first time using Instadapp, make sure to “Create an Account” before proceeding.
Now we are ready to import our Aave Debt Position on Instadapp using Instadapp’s DSA Tools for one-click importing.
STEP 2: We do this by heading over to the left pane and selecting “DSA Tools” — “Import Positions”. This will display our active Aave Positions that are ready to import.
Simply select “Give allowances and once that the transaction is confirmed, we can go ahead and import”:
Returning to the Dashboard, we can see a new strategy added to Instadapp. This is our Aave position that we will be securing.
On Ethereum mainnet, the fees are equal to gas cost; on Polygon, it’s 0.1% of your collateral used for swap.
Then, select “Manage”:
Navigate to the Strategies pane where we will be able to view the newly added Protection Automation feature on Instadapp:
Input the appropriate Triggering and Targeting ratios that you want to use and simply select “Automate”.
Once the transaction is confirmed you have successfully activated your Automated Protection!
To track and manage the active Protection at any time — simply head over to Authority in the DSA Tools tab here: https://polygon.instad.app/authority
Congratulations 🎉
Now we have successfully Protected our Aave Debt Position from liquidation with the power of Gelato’s Automation Infrastructure on Instadapp.
For any questions, please feel free to reach out to us and join the Gelato Community Chat on Telegram or Discord, and we can further assist you there.
Thank you for reading!
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis.
Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
► Check out what we’ve been working on at 🍦 https://gelato.network/🍦
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