Comets

Unleash the full power of Clone Liquidity App by understanding the use of comets.

Please proceed with caution. Comets utilizes a unique mechanism which carries inherent complexities. To ensure optimal use and mitigate potential risks, we highly recommend familiarizing yourself with the underlying principles before engaging with the platform.

Welcome to the new standard of concentrated liquidity on Clone: the comet. With the capacity to handle leveraged, cross-margin liquidity positions, comets embody our novel, highly efficient liquidity provision system. Comets allow users to add liquidity to all clAsset pools using only USDC simultaneously, contributing to the robustness and scalability of the platform. Note that each user account can only own one comet at a time. Although managing a comets may initially seem complex, this guide will simplify the process step by step for you.

Getting Started With Your Comet

You can start by navigating to the "Comet" tab on the top of the interface. If your comet is currently empty, you'll need to click on the USDC row in the "Collateral" section to deposit some USDC.

Process to add Collateral to Comet

After adding collateral, you'll notice your position now has a Health Score of 100. This is because your position currently has no risk due to the absence of any liquidity positions.

Adding Your First Liquidity Position

Now, click the "Add new liquidity position" button. This interface allows you to contribute liquidity to a pool using your comet. At the top, choose which clAsset pool you'd like to contribute to. You'll then need to designate an amount of liquidity you want minted into the pool. Remember, comets support leveraged liquidity, so you will be allowed to provide more liquidity than USDC you deposited.

The "Projected Health Score" provides insight into how the new position impacts the overall health of your comet. If this is your first liquidity position, consider maintaining a high score to leave room for adding liquidity positions to other pools later. Once satisfied, click "Open New Comet Liquidity Position" to initialize the transaction. All you need in your wallet is sufficient SOL to pay gas fees for this transaction.

Providing Liquidity with Comet

Managing Your Comet

After initializing the transaction, you will be directed to view your comet under the "Comet" tab. Here, you can flexibly edit your comet in any way you wish. You can deposit or withdraw collateral by clicking on your USDC position. If you want to add liquidity to a new pool you can follow the same process as before, and you can edit current liquidity positions by clicking on them.

Managing Comet Liquidity Position

You're now empowered to make the most out of the Comet Liquidity System with comets!