> For the complete documentation index, see [llms.txt](https://docs.cian.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cian.app/bondify/for-users-quick-start/user-strategies/looper.md).
# Looper
**One-lock looping.** The borrowed USDC never reaches you as cash. When you deposit collateral and set a leverage target, the protocol borrows the target debt from SLF and immediately converts it into more of the collateral asset, routed through a DEX or the official mint path, whichever is cheaper. The entire loan becomes yield-bearing collateral locked inside the position. There is no path to borrow USDC and walk away with it, which removes the cash-out attack vector a normal lending market has.
**Open a position** two ways: build natively (pick asset and leverage), or migrate an existing leveraged position from Aave or Morpho without unwinding.
**Manage** an open position: adjust leverage by adding or repaying SLF debt, claim rewards and points, or use it to issue a Yield Token or a Junior Token.
**Exit** three ways, fastest last:
* Repay debt and withdraw collateral yourself. The underlying unstake cycle applies, multiplied by leverage (a 5× position on a 7-day asset takes \~35 days to fully unwind).
* Delegated unstake: pick an exit percentage, the protocol unwinds, repays SLF, and returns your profit plus points.
* Tokenize to Junior Token and sell on the secondary market, typically within a minute.
---
# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.
## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.
Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:
```
GET https://docs.cian.app/bondify/for-users-quick-start/user-strategies/looper.md?ask=&goal=
```
`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.
Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.