I’m new here. I’ve ben trying to learn and decided I understood what was going on enough try my first trade. mETH swap price was aprox 3pct more than the oracle price so I figured I’d try to capture a small profit. I minted 2.185 mETH with $10,000 UDT as collateral (250pct “safe level” collateral). I sold the 2.185mETH for $4,086.
I thought there was still one leg of this trade I needed to complete to close it out (buy back the mETH at a (hopefully) lower price to close out my minted position at a small profit) but I no longer have a minted position. All I have is $16k of UST, which is $6k less than I started with, no open positions.
What did I do wrong here?