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MechanismsLiquidation

Liquidation

  • Liquidation: When liquidation happens, insolvent mining providers lose their collaterals and liquidation reserve to the treasury and cleared their debt;
    • Soft liquidation: When ICR falls below CCR, daily soft liquidation would happen until ICR goes up above CCR; 5% debt will be repaid with 5% * MCR worth of collaterals. At the same time, additional recovery mode fee applies.
    • Hard liquidation: When ICR continues to fall and reached MCR, hard liquidation would happen; All debt would be repaid with all collaterals plus liquidation reserve.
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