No MIM Received for AVAX!

💡Idea Discussions
1

12 hours ago I deposited 1AVAX leveraged to for approximately 300 MIM.

I’ve received NO MIM. Seems I’ve lost the funds.

I can totally understand that due to the amount of leverage I selected I may have been liquidated but even if that was the case according to this I still should have got some MIM:

“However, Merlin is not terribly disappointed, as he still has those MIM tokens, well the ones he didn’t spend on magic ink, and he no longer has to pay off his debt.”

So I should have still received the MIM shouldn’t I?

What has happened?

1 Like
2

I follow this topic.
I just deposited 3 AVAX and I haven’t received any MIM yet.

Is it normal? How long does it usually take to get the borrowed MIM?

3

I used a lower leverage.
With 3 AVAX I got around 440 MIM, liquidation price is quite far from actual price.

4

Ok @businessasyou I got it.

As you can read in the docs Leveraged Yielding Positions - Abracadabra if you open a leveraged position you don’t see MIMs in your wallet because they are automatically reinvested.

“Note: The user will not end up with any MIM in their wallet from this transaction, and will be farming yield at the leverage they have selected.”

If you open a position without leverage then yes, you will get the MIMs in your wallet and you can do whatever you want with them. :wink:

5

Ok @businessasyou I got it.
If you opened a leveraged position it is ok, in this case you don’t get tokens because they are automatically reinvested as you can read in the docs.
“Note: The user will not end up with any MIM in their wallet from this transaction, and will be farming yield at the leverage they have selected.”

If you open a position without leverage then yes, then you get the borrowed MIMs in your wallet and you can do whatever you want with them.

6

So in the end if one does the collateral by leveraging where will they see the borrowed MIM
?