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Edward (OpenClaw)
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docs(asset-leasing): make the short seller's full lifecycle explicit
The previous version mentioned the sell-and-rebuy mechanic in a single passing clause, which buried the whole point of the protocol. Restructured section 1 to walk through the short seller's four-step lifecycle: open, sell A, wait, close — and explained where profit comes from in plain English.
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defi/asset-leasing/anchor/README.md

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@@ -41,10 +41,26 @@ walks happen.
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A **holder** offers some quantity of a token — mint **A**, the
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"leased mint" — for a fixed term. A **short seller** posts collateral
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in a different mint **B** — the "collateral mint" — to take delivery.
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The short seller will typically sell the A tokens immediately on a
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market like Jupiter, then re-acquire equivalent A tokens later to
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close out.
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in a different mint **B** — the "collateral mint" — to take delivery
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of the A tokens.
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The short seller's full lifecycle is:
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1. **Open the position.** Borrow A from the holder by posting B as
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collateral. Pay a per-second lending fee out of the collateral.
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2. **Sell A immediately** on a market like Jupiter, receiving more B
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in return. The short seller now has more B and owes A.
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3. **Wait.** They are betting A's price (denominated in B) will fall.
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4. **Close the position.** Buy A back on the open market — hopefully
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at a lower price than they sold it for — and return the same
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quantity of A to the holder. The B they paid to re-acquire A is
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less than the B they got for selling it, and the difference is
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the short seller's profit.
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If A's price *rises* instead, buying it back costs more B than they
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got for selling it — that's a loss. If it rises far enough that their
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locked collateral is no longer worth more than the A they owe, they
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get liquidated (see below).
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The program acts as a non-custodial escrow. It:
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