> 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/llamalend/dashboard-and-use-case.md).
# Dashboard & Use-case
LlamaLend utilizes the $crvUSD stablecoin, just like the CurveUSD protocol. While their functionalities might seem similar at first glance, the difference is in how $crvUSD is acquired on these platforms.
> With LlamaLend, $crvUSD is borrowed by supplying collateral, whereas $crvUSD is minted by placing collateral on CurveUSD. So one could view CurveUSD as a more risk-averse, stablecoin minting protocol, and LlamaLend as its more capital efficiency-focused sibling. \
> \
> This focus on capital efficiency is further reinforced by LlamaLends permissionless markets - meaning anyone can create a market, offering higher LTVs.
Curve's stablecoin can be used as both debt and collateral on LlamaLend, and while it utilized the same LLAMMA band mechanism, the risk element is stronger, as you are either borrowing $crvUSD (not minting) or using it as the collateral asset.
With this in mind, users on LlamaLend can:
* Borrow $crvUSD in order to yield farm by supplying it to CurveUSD's DEX.
* Borrow $crvUSD in order to supply it and earn borrowing interest.
* Use their already minted $crvUSD as collateral in order to borrow a different asset.
If some of these strategies align with what you had in mind, let's look at how a position is created on DeFi Saver:
Show me how:
The first step would be to navigate to the LlamaLend dashboard from the sidebar on the left:
You'll land on the "Manage" tab by default, but you'll also have the:
* Automate tab, which gives you access to automation options. This option is something we're still working on.
* Notify tab, which lets you set custom-tailored notifications for your position. This option is something we're still working on.
To the right of the tabs, you'll see the wallet and token selection dropdowns:
* The wallet dropdown lets you select the account you'd like to open a position from.
* The market dropdown lets you choose which collateral/debt pair you'd prefer.
The final bit of info before create a position is the Borrow and Supply rate, which is located underneath the Manage, Automate, and Notify tabs.
You're now ready to create a position on LlamaLend:
1. Click on "Create" from the main dashboard:
2. Our first example will be opening a Borrow position. You'll need to input the amount of collateral and the debt amount, as well as the number of bands.
3. By hovering over the green "LR" button, you'll be able to find your liquidation range.
4. If everything check out for you, click on the "Create" button:
The dashboard will now show your new position.
The metrics you'll be able to find here are:
* The band distribution of your position, and the amount of collateral that will be swapped if its value decreases.
* The HR (Health Ratio) and CR (Collateralization Ratio) of your position
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 crvUSD - This tools is used to borrow more of the debt asset from your current position, in turn decreasing your safety ratio.
* Pay back crvUSD - 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 LlamaLend position on DeFi Saver!
Closing and Migrating your position:
The two remaining options on the dashboard that we haven't covered are Close and Migrate.
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"
{% 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 %}
To Migrate a position, visit the main dashboard, and you'll find the button right next to the "Close" button.
From there, you can choose the wallet you'd like to migrate the position to:
Once everything's good to go, click "Migrate".
***
## Related Articles:
* [LlamaLend](https://help.defisaver.com/protocols/llamalend)
* [Compatibility & Automations](https://help.defisaver.com/protocols/llamalend/compatibility-and-automations)
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