The collateral is 104.31 mixUSDC, shares in the mixUSDC vault. At a share price of 1.024066 USDC they are worth 106.82 USDC, or $106.82 at USDC’s $1.

A fall of 5.4% in the vault’s share price would take collateralisation from 111.2% to the liquidation line at 105.3%.

87.76 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 85.70 mixUSDC from the collateral, plus 0.21 mixUSDC for the line’s 0.25% redemption fee.

Across the 61 line redemptions on the timeline below, the line cleared 106.72 alUSD of this position’s debt and took 105.103 mixUSDC of its collateral. Valued in USDC at each redemption’s block, with one alUSD counted as one USDC, that is a net of −0.268 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 −0.267 USDC of it (0.262 mixUSDC). Each redemption’s own net is in its card’s detail.