> For the complete documentation index, see [llms.txt](https://delpho.gitbook.io/delpho-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delpho.gitbook.io/delpho-docs/using-delpho/manage-your-borrow-position.md).

# Manage your borrow position

After minting USDV against collateral, you can manage the position from the dapp.

For current LTV, liquidation threshold, and liquidation fees, see [Parameters](/delpho-docs/parameters.md).

## Actions available

<table><thead><tr><th width="251">Action</th><th>Effect</th></tr></thead><tbody><tr><td>Add collateral</td><td>Deposit more of the same collateral type. Lowers LTV. Reduces liquidation risk.</td></tr><tr><td>Withdraw collateral</td><td>Bound by the maximum LTV for your collateral (see <a href="/pages/hPN7SEG4k4EdxUSr5vv1">Parameters</a>).</td></tr><tr><td>Repay debt</td><td>Return USDV to the protocol. Reduces the debt side.</td></tr><tr><td>Close position</td><td>Repay the full debt and withdraw all collateral in a single flow.</td></tr></tbody></table>

## Health factor

The health factor is a single number summarizing how close the position is to liquidation. A health factor of 1.0 means the position is at the liquidation threshold for its collateral (80% for HYPE and kHYPE, 90% for USDC and USDT). A health factor above 1.0 means the position is in safe range.

The dapp surfaces:

* Current LTV.
* Current health factor.
* Liquidation price (the collateral price at which the position would hit its liquidation threshold).
* Estimated buffer in dollar terms.

If the health factor reaches 1.0 and auto-deleverage is not enabled (or has insufficient sUSDV to bring the position back), the position becomes liquidatable. The treasury absorbs it, and the borrower pays a total liquidation penalty of about 10%: 9% to the treasury, a capped 1% to the caller. The borrower keeps the rest of the collateral. See [Liquidations](/delpho-docs/how-delpho-works/liquidations.md) for the full mechanic.

## Auto-deleverage option

Auto-deleverage is the primary user protection on a Delpho borrow position. When you opt in, the protocol automatically unstakes your sUSDV and uses the resulting USDV to repay your debt as your LTV approaches the liquidation threshold. The position is brought back into safe range before liquidation triggers.

Opting in trades a slice of sUSDV yield (because the unstaked share stops earning) for staying out of liquidation entirely. For a user who does not want to actively manage a position through volatile markets, auto-deleverage is the conservative choice.

**Requirement:** auto-deleverage needs sUSDV available to unstake. If you do not have a sUSDV balance, the protection cannot trigger. See [*Stake USDV to sUSDV*](/delpho-docs/using-delpho/stake-usdv-to-susdv.md).

See *Liquidations* for what happens if auto-deleverage capacity is insufficient.