Credit Account

What is Credit Account

Upon leverage action, a smart contract called Credit Account is generated. This contract is managed by the leverage users and facilitates key functions, including receiving the requested loan from the liquidity pool, interacting with various strategies to earn yields, and managing positions or loan repayments. The account also has mechanisms so a liquidator can liquidate the account if it falls below the margin requirements.

A Credit Account is an isolated smart contract which contains

• User funds

  The assets user deposited into Macaron as collateral

• Borrowed funds

  The borrowed assets which also reflects user’s leverage level

• Allowed list

  Users can interact with and swap assets only within the contracts listed in their credit accounts. This mitigates the risk of funds being sent to vulnerable smart contracts or swapped into risky tokens, thereby protecting the protocol from potential losses.

You can see a Credit Account as your automated leveraged DeFi wallet where you not only keep positions, but can also program it the way you want.

How to open Credit Account

When opening a Credit Account, you can select the collateral you wish to deposit into the protocol and determine the leverage you want to maximize the utility of your assets. From there, you can long or short an asset, farm on UniswapV3, or make further adjustments to your credit account as you see fit.

To get started, go to ‘Dashboard’ page and click ‘Open Credit Account’.

Here, you can choose from different credit account types and select the collateral assets that best fit your preferences. Various credit managers are available to cater to your specific needs. You can also choose your desired leverage.

Once opened your Credit Account, you have full access to:

• Swap: Effortlessly exchange assets in your Credit Account for any other asset available on the Allowed List.

• Farm: Maximize your returns by depositing assets into the UniswapV3 pool and earning leveraged farming yields.

• Manage: Take control of your Credit Account by adding or withdrawing collateral, borrowing more, or repaying assets with ease.