Liquidations

Take collateral. Earn rUSD.

Vaults that crossed their liquidation threshold get Dutch-auctioned here. Anyone can bid. Price decays linearly from oracle+15% to 50% floor over 1 hour.

Live auctions
VaultCollateralAmountDebtCurrent price
No live auctions.
How liquidations work

Kick

When debt exceeds the liquidation threshold, anyone can call kick. The kicker earns 0.50% of cleared debt as a keeper reward.

Auction

Dutch auction. Start price = oracle × 1.15. Decays linearly to 50% over 1 hour.

Take

Buyers pay rUSD. Up to the debt is burned. Surplus + leftover collateral return to the original vault owner.

Bad debt

If the auction ends with debt still unpaid, the BadDebtSocializer burns rUSD from the srUSD vault — distributing the loss across all stakers proportionally.