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TL;DR: Smartcoins are created ("Shorted/Borrowed") to existence by backing it up with at least 2x the value in BitShares, the underlying asset.
In this example, I shorted HERO initially backed by 2.25x worth of BitShares.
BitShares price went up, which means the collateral "worth" went up as well.
By re-adjusting the slider, I was able to take out 0.5x collateral worth of BitShares - 8.8 BTS - as profit.
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