> For the complete documentation index, see [llms.txt](https://help.defisaver.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.defisaver.com/protocols/euler-v2/dashboard-and-use-case.md).
# Dashboard & Use-case
As we mentioned in the introductory article for Euler V2, its EVK (Euler Vault Kit) allows for the creation of customized lending vaults, which opens the door to a wide variety of assets - from blue chip to fully niche.
This system, along with the EVC (Ethereum Vault Connector) links vaults so deposits in one can be used as collateral in another, which boosts flexibility and liquidity.
EVK-built vaults have their own governance, so users do need to have trust in the DAO to properly and efficiently manage said vault. [The specific governor of each vault can be found on Euler's official market page.](https://app.euler.finance/?network=ethereum) On the other hand - the "Edge Vault Class" represents ungoverned, modular vaults used to establish permissionless markets.
On DeFi Saver, users will have the option of two assets to borrow - eUSDC-2 and eWETH-2. While the debt asset markets are limited, there's a plethora of options when it comes to collateral. With competitive APYs, Euler v2 creates a good environment for users to utilize some more niche assets as collateral.
If Euler v2 seems like your cup of tea, let's look at how a position is opened:
Show me how:
The first step would be navigating to the Euler V2 dashboard by clicking the icon in the sidebar:
In the same row as the Manage tab, you'll find the following options:
* The first option lets you select the wallet/account that you want to view.
* The second option lets you select which debt asset you'd like to borrow.
Let's now move onto the metrics that will help you do an assessment of your position:
* "Net APY" is a metric that represents the % by which your position's Net value will increase/decrease in a year based on the current Supply/Borrow APY.
* You'll be able to see the Safety and Collateral Ratio of your position
* The right-hand side "Details" tab will give you a full breakdown of your position's details, including metrics like Liquidation limit and Borrow power used.
We've now covered the basics of Euler's dashboard, so you're now ready to open a position. Let's dive right into how you can do that:
1. Clicking the "Create" button will take you to a new tab:
2. The interface is pretty straightforward - You'll be able to:
* Input the collateral amount
* Input the borrow amount
* View your position's metrics before opening it, which update in real time.
If you'd rather opt to open a Leverage position, simply click on the "Leverage" tab:
The interface is a bit more complex than the first due to the nature of leveraging. Here, you can:
* Select the collateral asset
* Input the collateral amount
* Set the leverage amount
* Input the borrow amount
* The exchange route (DeFi Saver will look to automatically find you the best one if you leave "Automatic")
* The slippage limit
* View your position's metrics before opening it
Whether you're ready to open a Borrow or Leverage position - the finishing touch will be clicking "Create"
Now that the position is opened, the "Manage" tab will look like this:
The final part of the dashboard we'll cover are the manual management tools:
Under the "Leverage" tab, you'll find:
* Boost - This tool is used to increase your exposure to the collateral asset when the safety ratio of your position increases. It does this by borrowing more crvUSD, swapping it to ETH, and supplying it to your current position.
* Repay - This tool is used to increase the safety ratio of your position by swapping part of your collateral asset in order to repay part of the debt.
Under the "Add/Remove" tab, you'll find basic actions such as:
* Supply - This tool is used to add more collateral to your position in order to increase the safety ratio.
* Withdraw - This tool is used to withdraw collateral from your position, in turn decreasing your safety ratio
* Borrow - This tools is used to borrow more of the debt asset from your current position, in turn decreasing your safety ratio.
* Pay back - This tool is used to pay back part of (or the entirety) of your debt, in turn increasing your safety ratio.
Underneath, you'll find "Combine with another action" - where you can click on any of the available options to add another action to your transaction:
Before executing any of these actions, the dashboard will provide you with updated metrics for your position based on the values you've input.
You're now well equipped to efficiently manage your Euler V2 position on DeFi Saver!
Closing your position:
The remaining option on the dashboard is Close.
If you decide to close down your current position, the steps are extremely straightforward:
1. Navigate to the main dashboard:
2\. Select the "Close" button:
3. Choose how you'd like to close your position.
4. Press "Close Euler"
{% hint style="info" %}
*The "Close (to X)" represents which asset will be withdrawn to your EOA wallet once the position is fully closed.*\
\
*To understand this in more detail, let's look at how the "Close" tool works in the background:*
* *First, it flash loans the debt asset*
* *It uses the flash loaned funds to pay back all of the debt*
* *Now that your collateral is freed up, it's withdrawn*
* *The collateral is then swapped to the debt asset*
* *This is used to pay back the flash loan*
* *The remaining funds are withdrawn to your EOA*
\
*Now, if you choose "Close to (collateral asset)", this means that it will only swap enough of your collateral to cover the flash loan, but it will withdraw the rest in the collateral token.*\
\
*If you choose "Close to (debt asset)", it's going to swap all of your collateral to the debt asset, pay back the flash loan, and the rest will be withdrawn in the debt token.*
{% endhint %}
***
## Related Articles:
* [Euler v2](https://help.defisaver.com/protocols/euler-v2)
* [Compatibility & Automations](https://help.defisaver.com/protocols/euler-v2/compatibility-and-automations)
* [EKV (Euler Vault Kit)](https://help.defisaver.com/protocols/euler-v2/evk-euler-vault-kit)
* [EVC (Ethereum Vault Connector)](https://help.defisaver.com/protocols/euler-v2/evc-ethereum-vault-connector)
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