Monitoring Your Position
Learn how to track and manage your Trove's health
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Learn how to track and manage your Trove's health
Last updated
Was this helpful?
An active Trove with FIL collateral
Access to the
Basic understanding of collateral ratios and liquidation risk
Monitoring your position is essential for maintaining a healthy Trove and avoiding liquidation. This guide will show you how to track your Trove's health, understand key metrics, and set up alerts to stay informed about changes that could affect your position.
The Trove dashboard is your primary tool for monitoring your position.
Navigate to the
Connect your wallet if not already connected
Go to the "Trove" section on the USDFC Dashboard page
Review your current Trove details
To effectively monitor your position, you need to understand the key metrics displayed on your dashboard.
The collateral ratio is the most important metric to monitor. It represents the value of your collateral relative to your debt.
Safe Zone: Above 200% (Conservative)
Caution Zone: 150% to 200% (Moderate risk)
Danger Zone: 110% to 150% (High risk)
Liquidation Zone: Below 110% (Immediate risk)
[Image: Visual representation of collateral ratio zones]
The liquidation price is the FIL price at which your Trove would reach the minimum collateral ratio (110%) and become eligible for liquidation.
[Image: Visualization of liquidation price calculation]
The current price of FIL relative to USD is displayed to help you understand how close you are to your liquidation price.
Based on your current metrics, the dashboard may suggest available actions to improve your position's health.
While the USDFC application doesn't currently offer built-in alerts, you can set up external alerts to monitor your position.
Set up price alerts for FIL using cryptocurrency tracking apps or exchanges.
Calculate your liquidation price
Set an alert for when FIL price approaches this threshold (e.g., 20% above liquidation price)
Use blockchain monitoring tools to track your Trove's health.
Find your Trove's address or ID
Configure alerts for significant changes to your Trove
Establish a routine for checking your Trove's health.
If your collateral ratio is close to the minimum (110%-150%):
Check your position at least once daily
Monitor FIL price movements throughout the day
Be prepared to add collateral quickly if needed
If your collateral ratio is in a safer range (150%-200%):
Check your position at least once weekly
Review FIL price trends for the week
Adjust collateral as needed based on market outlook
If your collateral ratio is very high (>200%):
Check your position at least once monthly
Evaluate if you're being too conservative with your capital
Consider strategies to optimize your position
Develop a plan for responding to different market scenarios.
Calculate how much the price can drop before reaching your comfort threshold
Prepare additional FIL for collateral if needed
Consider reducing your debt by repaying some USDFC
Evaluate if you want to withdraw some collateral
Consider minting additional USDFC
Rebalance your position to maintain your target collateral ratio
[Image: Flowchart showing decision paths for different market scenarios]
Dashboard Not Loading: Try refreshing the page or reconnecting your wallet
Metrics Not Updating: Check if there are pending transactions or network congestion
Unexpected Collateral Ratio: Verify the current FIL price from multiple sources
Q: How often does the dashboard update? A: The dashboard updates in real-time based on blockchain data and current price feeds.
Q: Will I receive notifications if my Trove is at risk? A: The USDFC application doesn't currently send automatic notifications. You should set up external alerts as described above.
Q: What should I do if I can't access the application but know my position is at risk? A: You can interact with the USDFC protocol directly through the smart contracts if necessary. Keep emergency funds ready to add collateral when needed.
Q: How can I tell if the system is in Recovery Mode? A: The dashboard will display a prominent notification when the system enters Recovery Mode.
Popular platforms for price alerts include , CoinMarketCap, or exchange apps
Set up monitoring using tools like , Tenderly, or DeFi-specific monitoring platforms
Learn how to
Consider to earn rewards
Understand and how it affects your Trove
