TermLiquidation

modelstringnullable

HOW it happens, distinct from what triggers it. repay-seize | soft-band (LlamaLend: gradual, reversible, penalty-free conversion inside the AMM — there is no single liquidation price) | stability-pool | auction (Frankencoin: no oracle, an owner-DECLARED price policed by a Dutch auction) | default-seizure | delivery | none.

absorberstringnullable

reversiblebooleannullable

soft-band only — being "in liquidation" is not terminal and unwinds if price recovers.

triggerstringrequired

price | time | price-and-time | redemption | none. A time trigger liquidates a perfectly over-collateralised position; a health factor does NOT protect you.

ltvnumbernullable

FRACTION (0.8 = 80 %).

liquidationLtvnumbernullable

FRACTION.

penaltynumberrequired

FRACTION of repaid debt.

penalties object[]nullable

Named penalties where one number cannot express the model — Liquity charges differently depending on whether the Stability Pool absorbs the debt or it is redistributed.

Array [

idstring

labelstring

valuenumber

Native-token value to send with the transaction, in wei.

descriptionstringnullable

Human-readable label for this entry.

]

closeFactornumberrequired

targetHealthFactornumbernullable

seizurestringrequired

proportional | full-collateral. The latter (Teller) means a liquidator takes the ENTIRE escrow, not the amount owed — roughly 2x the borrowed value at 50 % LTV.

redeemablebooleannullable

redemption object

Collateral taken from a HEALTHY position. On every lender we serve this is a PERMISSIONLESS ARBITRAGE that defends the stablecoin’s peg — not a liquidation, and not a governance decision. Rendering only the effect ("your collateral can be taken") misleads.

triggerstringrequired

permissionless-arbitrage — any holder of the debt token, any time. (governance / protocol are reserved and unused.)

driverstringnullable

below-peg — it only pays them while the token trades under its target.

orderstringrequired

lowest-rate-first (Liquity family — your rate IS your queue position) | pro-rata (Resupply — every borrower is skimmed, nothing to out-run) | lowest-collateral-ratio.

valueImpactstringnullable

usd-neutral — the fee stays in the position as extra collateral, so the borrower loses EXPOSURE, not value. Do not render this as "you lose your collateral".

defencestringnullable

What the borrower can do. ABSENT when order: pro-rata — there is nothing.

windowSecsnumbernullable

gracePeriodSecsnumbernullable

permissionedbooleannullable

badDebtstringnullable

bandLtv objectnullable

soft-band only: collateral factor as a function of the band count chosen at open (0.991 at N=4 vs 0.886 at N=50). ltv reports the default N.

property name*number

defaultBandsnumbernullable

fullCloseBelowHealthFactornumbernullable

TermLiquidation

{
  "model": "string",
  "absorber": "string",
  "reversible": true,
  "trigger": "string",
  "ltv": 0,
  "liquidationLtv": 0,
  "penalty": 0,
  "penalties": [
    {
      "id": "string",
      "label": "string",
      "value": 0,
      "description": "string"
    }
  ],
  "closeFactor": 0,
  "targetHealthFactor": 0,
  "seizure": "string",
  "redeemable": true,
  "redemption": {
    "trigger": "string",
    "driver": "string",
    "order": "string",
    "valueImpact": "string",
    "defence": "string"
  },
  "windowSecs": 0,
  "gracePeriodSecs": 0,
  "permissioned": true,
  "badDebt": "string",
  "bandLtv": {},
  "defaultBands": 0,
  "fullCloseBelowHealthFactor": 0
}