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Paying RMM Debt from another address
Paying RMM Debt from another address

How to repay RMM debt from any address?

Updated over a week ago

You can repay the funds borrowed on the RMM from any Gnosis Chain address. The RMM interface doesn't allow this at the moment, so all you have to do is interact directly with the smart Contract on the blockchain.

We will :

  1. Connect to the RMM Smart Contract using the Gnosis Explorer.

  2. Enter the amount we want to refund and the address that will benefit from the transfer.

  3. Validate the operation on our wallet.

Reaching the RMM Smart Contract

The RMM Smart Contract is: 0x80Dc050A8C923C0051D438026f1192d53033728c

We can use the Gnosis block explorer to access it easily:

Then click on Contract and Write Contract to launch the interaction:

Click here to go directly to this page.

This page allows you to interact directly with the Smart Contract, and like any interaction on the blockchain, you need to connect your wallet (Click on Connect to Web3). The Gnosis explorer accepts Wallet Connect and browser Wallets.

Your wallet may not connect on the first attempt, so you could have to redo the operation to ensure that your Gnosis address appears in green on the site.

Interact with Smart Contract

Function 7 is used to repay loans on the RMM Smart Contract, "repayETH". In our example, we'll take a random address that has just borrowed funds from the RMM and repay 0.1 xDAI.

There are five fields to fill in before validating the transaction on our wallet.

  • repayETH : payableAmount (xDAI)

    Here, we'll set the value to "0.1" because, in our example, we want to repay 0.1 xDAI or 10 xDAI cents.

  • lendingPool (address)

    This is the loan pool contract. For the RMM, this is always: 0x5b8d36de471880ee21936f328aab2383a280cb2a

  • amount (uint256)

    This is the amount to be reimbursed; the number must be in uint256 format. This format doesn't accept commas and needs 18 decimal places to get the right amount.

    In our example, 0.1 becomes 0100000000000000000

  • rateMode (uint256)

    Simply enter the digit "2".

  • onBehalfOf (address)

    This is the address whose loan we are seeking to repay.

    All you have to do is validate the operation in your wallet, and the transaction will be completed.

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