Background Context: I wrote this post and drafted it out a while ago, didn’t have time to proof read it until now. Not sure if anyone is still interested, but here you go anyway. As mentioned in the last post, I went leveraged long on ETH at $377, and this is how I did it trustlessly.
I’d say that I’m not an expert and I opened up my first leverage position today.
The beauty of the Maker system is that you can decide how much to leverage and when.
Anyway, it was a rather confusing and complicated process, but a learning journey all the same. This is highly NOT recommended for anyone that is not familiar with making on-chain transactions and have a low risk tolerance.
Opening up a CDP
1) Have ETH in your Metamask account
2) Go to dai.makerdao.com/
3) Enable all the token allowances …