I closed a leveraged position on TermMax today through the dashboard. One click, sign, done.

I figured that number was just what closing means. Collateral sold, debt settled, difference sent back.

Turns out that's one specific way to close it, not the only one.

TermMax's own blog has a separate guide for closing manually: buy back the FT you originally sold to open the position, use it to cancel debt directly, and your full collateral comes back untouched. No forced sale at close.

The dashboard path sells your collateral right then, at whatever the market gives. Manual skips that, you choose when and how to sell after.

In their own worked example, opened around a 7% borrow rate, closed when lending was near 15%, and manual repayment returned 1.89% more. On a $1M position that's over $18k left on the table from one click.

I still don't know how wide that gap usually runs, or if it got folded into the UI after V2 shipped.

Keep wondering what happens when a wave of positions close at once, everyone hitting that same default sell on correlated collateral simultaneously.

@TermMax has the whole breakdown documented 👍 #TermMax
Anyone here closed manually instead of just hitting the button?

#termmax @TermMax