Burn

Learn how to burn assets on Mirai to remove Mint positions

The Burn feature on Mirai allows users to undo their leveraged positions created by the Mint function by removing an equal amount of deposits and debts from their sub-account. It is a way to "repay" the leveraged position without actually having to transfer assets. Here is a step-by-step guide on how to use the Burn feature:

1. Ensure that you have sufficient supply and debt tokens of the selected asset in the sub-account you plan to burn.

2. Select the Mirai sub-account where the leveraged position was created.

3. Select the asset you want to burn.

4. Enter the amount you wish to burn

5. Select "Max" to burn all available of the selected asset.

6. Observe the Multiplier while entering the amount to make a decision It's important to note that the Burn function is only used to close leveraged positions from Mint and Long functions, it's not used to repay debts. To repay debts, you should use the Repay function.

Additionally, it's important to keep an eye on your collateralization ratio and the value of assets you have deposited, to avoid unwanted liquidations.