Opening a Long

A long position profits when the token price goes up relative to USDC.

How it works

1. You specify a USDC amount (your position size)
2. The protocol takes a 5% open fee (3% to LP, 2% to protocol treasury)
3. Synthetic (unbacked) airUsd is minted
4. The synthetic airUsd is swapped through SWAP-2 for airToken tokens
5. The airToken tokens are locked in the PositionNFT contract
6. You receive a Position NFT representing your long

What's in your NFT

Your Position NFT holds:

• lockedAmount — airToken tokens locked as your position
• usdcIn — your original USDC position size
• airUsdMinted — the synthetic airUsd debt created at open (this is what you "owe" when closing)
• feesPaid — total fees paid at open

Slippage protection

You set a minAmountOut when opening. If the AMM would give you fewer airToken tokens than this minimum, the transaction reverts. This protects against front-running and large price moves.

Position caps

The LP may set caps on position size:

• maxPositionUsd — hard dollar cap per position
• maxPositionBps — soft cap as a percentage of pool TVL

If either cap is active and your position exceeds it, the transaction reverts.

Example

You open a long with 100 USDC on a RGOGLZ/USDC pool:

1. 5 USDC fee taken (3 to LP, 2 to treasury)
2. mints 100 synthetic airUsd
3. Swapped for airToken → locked in your NFT
4. If RGOGLZ price rises, your airToken is worth more airUsd when you close → profit