> For the complete documentation index, see [llms.txt](https://docs.gage.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gage.cash/borrow/positions.md). # Uniswap positions as collateral A liquidity position in an allowlisted stock/USDG or meme/stock pool on Uniswap v4 can be pledged like a token. The position NFT moves into escrow; the liquidity stays in the pool and keeps earning swap fees. ## What qualifies At listing, every one of these must hold: 1. You own the position and it is on the canonical PositionManager. 2. The pool is on the allowlist, and its currencies are either an allowlisted Stock Token and USDG, or an independently allowlisted meme and Stock Token. 3. Removal callbacks are rejected unless the pool has a reviewed, immutable observation-only after-remove hook with an exact runtime hash. Before-remove and removal-return-delta permissions remain excluded. 4. The position's liquidity is above the pool's minimum. 5. The position is in range at deposit (this check can be switched off by the registry; it is off at launch). 6. No subscriber is attached to the position. Positions in Pons-graduated pools are never accepted: their liquidity fee is zero, so the position is pure price exposure. ## How it is valued Both token amounts and both uncollected fee balances are valued in USDG. For BONER/HIMS, the panel shows BONER and HIMS separately. The range top holds HIMS and the range bottom holds BONER. Meme-price scenarios hold the stock's current USDG price constant; they do not assume the stock itself is stable. The suggested cap is 90% of value. ## While escrowed * Nobody modifies the liquidity or collects fees. Accrued fees stay in the position. * Fees follow the NFT. Reclaimed: you collect them later. Claimed: the lender does. * If the price leaves the range, the position holds one asset until it comes back. That changes its value, not the deal. ## Creating a position first If you hold a Stock Token and USDG but no position, the app can suggest a range for the deal's term from 30-day realised volatility, then drives Uniswap's own PositionManager to mint it. Ranges are "Recommended" or "Full", never "best". The Recommended range always carries the note: this position holds only one asset while the price is outside its range. --- # 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.gage.cash/borrow/positions.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.