How to mint and repay monUSD

Below are some high-level points that will help you understand how Monarch works:

• To use Monarch, each wallet address needs to open a new Position.

• Only one Position is allowed per wallet address.

MON is the Monad native token.

When users open a position and borrow monUSD tokens, they can opt to partially or fully repay their debt. For partial repayments, it's important to note that the resulting debt balance after repayment must not fall below 3,000 monUSD.

Successful repayment will immediately burn the repaid monUSD tokens via a fully decentralized smart contract. This process not only improves the Position's collateral ratio but also increases the amount of collateral available for withdrawal.