Liquidations
When a loan's collateral falls below 125%, anyone can close it and take the ETH plus a 7% bonus. It is open to everyone and there is no queue.
125%
Liquidation line
7%
Liquidator bonus
Open
Liquidations right now
30 min
Grace after reopen
Check a position
The protocol isn't deployed yet
Once it's live, you can check and close any position from here.
How to liquidate
- 01Find a loan below 125%. Call
isLiquidatableto confirm. - 02Hold the stock they owe, and approve the pool to take it.
- 03Call
liquidate. You pay their stock debt and receive their ETH plus 7%.
Simulate before you send. Someone else may have taken it in the block before yours.
When it's blocked
- Market closed. No price, no liquidation.
- Stale feed. Over 30h old and the contract refuses.
- Grace period. 30 minutes after a reopen, so borrowers can top up before bots take everything.
The protocol's cut
Zero. The whole 7% goes to whoever does the work. The point is to get bad loans closed quickly, not to earn from them.