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πŸ› οΈ Position Managers (PM)
πŸ› οΈ Position Managers (PM)

What exactly is a Position Manager? Would it be advisable for me to get one?

hyment avatar
Written by hyment
Updated over a week ago

πŸ‘¨β€πŸ’» Introducing Position Managers

A Position Manager (PM) is an entity approved by a user to open, adjust, or close their positions on their behalf. Position Managers can be either externally owned accounts (EOAs) or smart contracts. However, users can revoke this approval at any time to prevent unauthorized actions. Additionally, transactions initiated by Position Managers are subject to the same security measures and validations as those initiated by users directly.

Users can approve an unlimited number of Position Managers to act on their behalf. However, it's essential to understand that each approved Position Manager has access to modify all of the user's CDPs, regardless of their involvement in their opening or previous management.

🚨 Risks.

Some potential risks associated with the usage of Position Managers include mismanagement of assets, unauthorized transactions, or security breaches by malicious Position Managers. These risks can be easily mitigated by thoroughly vetting Position Managers before granting approval, regularly monitoring their activity, and promptly revoking access if any suspicious behavior is detected.

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