Blog Technology Want Extra Protection for Your Collateral? Try Auto Top-up

Want Extra Protection for Your Collateral? Try Auto Top-up

date August 8, 2019 time 2 min read 1140 views

For a while now, you’ve been able to top up your collateral if the value falls. Now, you can top up automatically, giving you extra peace of mind. Here’s how it works…

How does auto top-up work?

To enable auto top-up, you need to deposit additional collateral. Then, when the value of your collateral falls to 110%, the platform will top it back up to 125%. If it falls again, the platform will top it up again, and this cycle continues until you run out of extra collateral.

You’ll receive an email whenever an auto top-up is triggered — and if we can only partially top up, we’ll email you to top up the rest.

Auto top-up gives you additional headroom should the market dip, but it’s not a failsafe mechanism. A flash crash could still jeopardize your tokens. Please keep an eye on the value of your collateral throughout your term.

How to enable auto top-up

Step #1 — Add some extra collateral

Head over to MyConstant Pro and click DEPOSIT COLLATERAL on the right-hand side. Select your collateral from the dropdown box and generate a receiving wallet address. Send your collateral to this address by either copying it or scanning the QR code.

Step #2 — Enable auto top-up

Go to your Accounts page and scroll down to find your loan. Beneath the loan created date you’ll see a toggle for Auto top up (as shown in the pic below). Toggle this on.

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You’ll then see the pop-up below. Click YES.

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You’ve just enabled auto top-up — nice work. Now, whenever your collateral falls to 110%, it’ll get topped up automatically to 125% from your available balance. If you have any questions, comments, or feedback, drop us a line at [email protected]

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Chris Roper

Chris Roper

Communications Manager

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