KLAYswap
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# Remove Short Position

## Detailed procedures for Removing Short positions

Following is the account status at the time a position is opened for the user.
1) Price of KLAY at opening: 1 KLAY = 0.5 USDT
2) Earn USDT single pool deposit interest on my asset 1,000 USDT (3.00% per year), Earn KSP reward
3) Earn USDT single pool deposit interest on position asset 2,911 USDT (3.00% per year), Earn KSP reward
4) KLAY Utilization cost for utilized asset 6,000 KLAY incurs (6.00% per year)
At the time of closing the position after 1 year, the account situation is as follows.
1) Price of KLAY at closing: 1 KLAY = 0.2 USDT
2) My Asset = 1,000 USDT *(1+0.03) = 1,030 USDT = \$ 1,030.00
3) Secured Asset = 2,991 USDT*(1+0.03) = 3,080.73 USDT = \$ 3,080.73
4) Utilized Asset = 6,000 KLAY*(1+0.07) *\$0.2=1,284 USDT = \$ 1,284.00
Step 1
- When requesting position close, the secured asset USDT deposited in a single pool is first used to return the utilized asset KLAY.
- To return the utilized 6,420 KLAY, 1,287.86359 USDT has to be swapped for KLAY from the KLAY/USDT pool. [Reference]
Calculation of the quantity of USDT (x) needed to return 6,420 KLAY
* 1KLAY = 0.2 USDT, 0.3% swap fee will incur during swap
x = 6,420/(1-0.003)*0.2 = 1,287.86359 USDT
Step 2
- Close the position by returning the 6,420 KLAY earned.
* Partially returning the assets lets the user decide how many positions to close.
The following assets will be distributed to the user who has completed depositing short positions as described above.
1) My Asset 1,030 USDT (Deposit Intered + Earn 30 USDT)
2) Position Profit + 1,796.73 USDT (=\$3,080.73- \$1,284.00)
3) Additional KSP rewards from USDT and KLAY pool