How to Manage Automated Leverage on Cobo Argus
Cobo Argus offers a robust suite of features for Lybra Finance users, providing a spectrum of functionalities from single-sig authorization to an automated leverage bot. The goal is to deliver a seamless user experience that is not only safer and more efficient but also convenient. The automated leverage bot works by automatically deleveraging when the collateral ratio falls below the safety threshold, preventing liquidation and safeguarding user assets.
This tutorial walks you through the steps on how users can utilize Cobo Argus to configure the automated leverage bot. This bot is designed to monitor the collateral ratio and initiate automatic repayment when it falls below the safety threshold. The process is broken down into the following sections:
1. Setting up Lybra single-sig authorization
2. Depositing ETH to Lybra to obtain eUSD
3. Configuring the Lybra automated leverage bot
Setting up Lybra Single-sig Authorization
Step 1: Navigate to the “Farming” page and select “Lybra V2”
On the “Farming” page, locate and choose the “Lybra” pool.
Step 2: Select the corresponding Safe{Wallet} and go to “Single-Sig Authorization”
In the top-left corner of the wallet, choose the appropriate Safe{Wallet}, then click on “Single-Sig Authorization”.
Step 3: Create a new role
Click on “Create Safe Role” to generate a new role. For the binding authorization addresses and confirmation submission process, please refer to this tutorial.
Step 4: Authorize Lybra permissions to the Safe Role
Return to the strategy configuration page and grant the permissions of Lybra to the created Safe Role:
eUSD mint: Authority to deposit stETH or convert with ETH.
eUSD burn: Authority to withdraw stETH.
esLBR farm: Authority to stake esLBR.
peUSD mint: Authority to deposit wstETH/wBETH/rETH or convert with ETH.
peUSD burn: Authority to withdraw wstETH/wBETH/rETH.
Step 5: Token Approval
Review the authorizations required for the {Safe} wallet, smart contracts, and tokens. Once confirmed, click on "Submit" to initiate the authorization request.
Step 6: Complete a multisig transaction
Inform Safe owner(s) to complete the multisig transaction on Safe{Wallet}.
Step 7: Authorization takes effect
Once the on-chain transaction is confirmed, congratulations! The authorization bot has been successfully set up!
Depositing ETH to Lybra to Obtain eUSD
Delegated team members can efficiently utilize WalletConnect on Cobo Argus to complete authorized DeFi operations through a single signature. The following steps illustrate the process using Lybra authorization as an example.
Step 1: Delegated Member(s) access the Argus page, then click on “WalletConnect”.
Step 2: Head to Lybra Finance and click on “Connect Wallet” in the upper-right corner.
Click “Copy”
Return to Cobo Argus, paste the code into the box, and click “Connect”. This signifies that the Cobo Safe is successfully connected to Lybra. The delegated member can now proceed with single-sig operations in Lybra.
Step 3: Provide Liquidity
Delegated members can deposit ETH into Lybra at this point. These actions can be completed with a single signature, eliminating the need for multi-sig confirmation from Safe Owner(s).
Step 4: Return to the WalletConnect page of Cobo Argus to view the transaction details and click “Approve” after confirmation
Step 5: After Delegated Member(s) sign and the transaction is successfully broadcasted to the chain, the deposited ETH will be visible on Lybra.
Configuring the Lybra Automated Leverage Bot
Step 1: Select a Strategy Bot
Click on "Farming" in the left menu. Choose a Leveraging Bot based on the blockchain networks, DeFi protocols, and liquidity pools.
Access Lybra and configure it within the “Leverage Bot” or click “View More” to read about the bot details, then click “Set Up.”
Step 2: Set up the Task and click "Continue"
Two types of Tasks are available:
Notification: Sends email notifications to the Admin(s) and Operator(s) when the bot executes.
Deleverage: Pays back eUSD/peUSD to reach the configured repay-to-it ratio when the current collateral ratio falls below the user-set threshold, preventing liquidation.
Specific Setup Instructions
1. Notification
Cobo Argus will email notifications to the admins and operators of the organization each time the bot is executed.
2. Deleverage
In scenarios where the current collateral ratio falls below the user-defined threshold, the leverage bot will initiate the process of repaying eUSD/peUSD to attain your configured repay-to-it ratio, effectively preventing liquidation.
Collateral Ratio Trigger: The bot will execute when your current collateral ratio falls below the user-set threshold.
Repay It To: Specify the ratio you aim to achieve or reach.
Important Note: Tokens intended for payback must be stored in the Safe{Wallet}. In cases where the token balance is insufficient, we will still proceed with the payback process; however, your collateral ratio may not reach the targeted value.
Step 3: Review the bot setup
Review the bot setup at both the "function" and "parameter" levels. If everything is in order, click "Submit" to initiate the multisig transaction on Safe{Wallet}.
Step 4: Complete multisig transaction
Inform Safe owner(s) to complete a multisig transaction.
Click on "Check the transaction" to monitor the progress of this multisig transaction.
Step 5: Review bot activity details
The leverage bot setup is successful once the multisig transaction is completed.
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