How to unwind my looped position on Fantom? [SOLVED]

I’m in the camp of Tether FUD and I was using E-Mode to loop:

  • deposit USDC
  • borrow USDT (up to 97% LTV)
  • trade USDT to USDC
  • repeat

I was actually quite happy that with $4k of capital I was able to hold -$140k short of USDT

But now the market is closed and the cost is too damn high.

The liquidation threshold is 97.5% and max LTV is 97%… So I’ve repaid some USDT debt to go below, the current number is 96.98%:

Now I’m trying to withdraw USDC to reverse the loop but it says “max 0” :woman_shrugging:


I have some liquid USDT to repay and unwind but I’m too worried to repay the debt and then not being able to withdraw USDC.

I was repaying in increments to arrive below 97% threshold.

Not being able to withdraw makes me worried.

This ARC proposes to freeze the Aave V3 Fantom market, allowing users to repay their debts and withdraw but blocking deposits and further borrowing on this market.

Source: Snapshot


Because my LTV is so close to 97% threshold it might be some calculation issue but before I put more USDT to repay the debt I definitely need some advice.

(not legal, not medical, not financial)


EDIT / UPDATE 1:

Seems like I’m able to move the aFanUSDC to another account and withdraw from there.

Is there any helper function to tell me what is my max send?

EDIT / UPDATE 2:

The ability of withdrawing by moving aFanUSDC gave me the confidence to YOLO (within reason) my remaining USDT.

Now I moved further away from 97% threshold and I can withdraw USDC normally.

I’ve noticed that when I do “withdraw max” on USDC it goes to 96.5% and the health factor is 1.01. I think the limit on “borrow power used” is 99.5% - which makes sense. At 100% power used it would be dangerously closed to liquidations.

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