Dashboard & Use-case

Before opening a position on Spark, let's have an overview of the protocol's dashboard. Understanding all of the available options will help you get the most out of managing your position on DeFi Saver. So, you've navigated to Spark\s dashboard by clicking the icon in the sidebar, and are met with the following screen:

• You'll be on the "Manage" tab first, which will let you manually manage your position by utilizing the available tools.

• The "Automate" tab will take you to our Automation options.

• The "Notify" tab will take you to the interface where you can set up custom-tailored notifications for your position.

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 choose the "risk ratio" that you'd like to view. For a breakdown of how ratios are calculated, please refer to this article. Health Ratio is calculated as: HR = Total Borrowed Value / (Total Collateral Value x Liquidation Threshold)

• The right-hand side "Details" tab will give you a full breakdown of your position's details, including metrics like Liquidation ratio, Borrow power used, and let's you activate E-Mode. This is a feature that we will cover later on in the article.

• The "Automations" tab will show you any activate automations you may have for your position, while "Rewards" will show you any claimable that might be available.

• The "Rewards" tab will have any claimable Spark rewards for you to claim.

The final step before opening a position is to scroll down to the "Market" section:

This gives you a full overview of the available assets within the protocol, along with asset-specific metrics like:

• Supply APY (how much interest you earn by supplying the asset as collateral)

• Borrow APY (how much interest you pay for borrowing the asset)

• Collateral Factor (the maximum amount you can borrow based on your collateral's value)

• Liquidation Factor (the threshold that represents the value that your debt must remain under compared to your collateral - otherwise the position is liquidated)

• Market info/size

We've now covered the basics of Spark's dashboard, so you're now ready to open a position. Let's dive right into how you can do that.

Clicking the "Create" button will take you to a new tab:

The interface is pretty straightforward - You'll be able to:

• Select the asset you want to supply as collateral

• The collateral amount

• Select the asset you want to borrow

• The borrow amount

• View your position's metrics before opening it

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 asset you want to supply as collateral

• The collateral amount

• The leverage amount

• 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"

If the transaction succeeds, you'll see the pop-up from above. You can feel free to press "Done" if you're not yet interested in turning on Automations.

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:

• 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 of the debt asset, swapping it to the collateral asset, 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.

• 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.

By clicking the "+" "Add second action" button next to the tab for your current tool, you'll be able to combine actions into a single 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 Spark position on DeFi Saver!

We went in detail on how to open a position on Spark in the "Show me how" section above.

Before we cover how E-Mode is activated, let's quickly cover what it actually represents.

E-Mode is a feature that's used in cases where the collateral and debt asset are extremely close in value, if not a fully 1:1 value.

These pairings ensure that the position itself is inherently less risky, as there's a lower chance of the debt's value deviating from the collateral (causing a liquidation to trigger).

In turn, this means that the Loan-to-value (LTV) ratio can be higher, meaning you can borrow more with your collateral than you could with more volatile pairings. At the same time, it also ensures that the collateral ratio can be lower. Currently, E-Mode supports the following asset pairings:

• ETH Correlated

• Stablecoin Correlated

• BTC Correlated

With a basic understanding of E-Mode, let's go into how you can activate it. There are two ways of activating E-Mode on DeFi Saver:

• While you're opening/creating a position

• After you've already opened a position

While you're opening a position, if you've selected price-correlated assets (for example, ETH-wstETH), you'll get an E-Mode checkbox (ETH correlated) that's on by default:

In case you've already opened an eligible position, but didn't activate E-Mode initially, you can do so by going to the main dashboard:

From here, you'll see "E-Mode" on the right-hand side. Click "Manage":

In this window, select the asset pair that's associated with your position, click "Enable E-Mode", and you'll be good to go.

If at any point you'd like to turn E-Mode off, follow the same steps as activating it , but just choose the "No E-Mode" option.

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:

1. Select the "Close" button:

1. Choose how you'd like to close your position.

1. Since closing from your position involves swaps, you can also (optionally) set the exchange route and slippage limit.

1. Press "Close Spark"

To Migrate a position, visit the main dashboard, and click the three dots next to the "Close" option:

From there, you can choose the wallet you'd like to migrate the position to:

Once everything's good to go, click "Migrate".