The collateral is 1.3M mixUSDC, shares in the mixUSDC vault. At a share price of 1.024066 USDC they are worth 1.3M USDC, or $1.3M at USDC’s $1.

A fall of 5.3% in the vault’s share price would take collateralisation from 111.1% to the liquidation line at 105.3%.

159.1K alUSD of the debt is set aside for repayment. A line redemption clears it, and so does the holder repaying with vault shares or closing the position. At this share price clearing all of it takes 155.4K mixUSDC from the collateral, plus 388.52 mixUSDC for the line’s 0.25% redemption fee.

Across the 61 line redemptions on the timeline below, the line cleared 393.5K alUSD of this position’s debt and took 388,069.152 mixUSDC of its collateral. Valued in USDC at each redemption’s block, with one alUSD counted as one USDC, that is a net of −983.518 USDC for the holder: the debt cleared less the value of the collateral taken. The line’s 0.25% redemption fee, paid to Alchemix’s fee receiver, is −983.711 USDC of it (967.753 mixUSDC). Each redemption’s own net is in its card’s detail.