About this explorer
Every Liquity V2 Trove on Ethereum, open or closed, with its history. A Trove is a loan: collateral locked, BOLD (the protocol's stablecoin) borrowed. Stability Pool deposits are not shown.
How it works
- The borrower sets the interest rate and can change it. Interest is added to the debt as it accrues. Minimum debt is 2,000 BOLD.
- Upfront fee: opening, adding debt, joining a batch, and changing the rate within 7 days of the last change each add 7 days of interest at the branch's average rate to the debt. Opening also holds a 0.0375 WETH reserve, returned on close.
- Redemption: anyone can swap BOLD for $1 of collateral, which holds BOLD at a dollar. Debt and collateral fall together and the Trove stays open, even if the whole debt goes (a zombie, below). The redeemer's fee stays in as extra collateral. Lower-rate Troves go first.
- Three branches: WETH, wstETH and rETH. Troves are liquidated below 110% (WETH) or 120% (the others).
- Delegating: a batch manager sets one rate for its Troves and charges a yearly management fee, added to the debt. The manager's rate change costs every member the upfront fee only if the manager's previous change was within 7 days; a change a day after a Trove joins is free if the manager last moved the rate earlier. Leaving means setting a rate again.
- Zombie: debt left under 2,000 BOLD (usually 0) by a redemption. It leaves the normal queue; the owner can close it to collect the collateral left, or borrow again.
- A Trove also moves without its owner: interest, manager rate changes, redemptions, redistribution from others' liquidations, price moves and NFT transfers.
Listing
- One card per Trove: collateral, debt, interest rate, collateral ratio, liquidation price.
- Batches show the manager's name where Rails knows it. A zombie shows as Open with the zombie mark.
- The bare listing shows Open and Zombie Troves; search a wallet, ENS name or Trove ID to see every status.
- Filters: status, collateral, redeemed or never redeemed, delegated or individual.
Trove page
- The top card shows collateral, debt and collateral ratio; opened, it adds the interest rate, the yearly cost, the share of the redemption queue ahead of this Trove and the liquidation price. The wallet chip is the last owner; the history belongs to the Trove, whoever held it. The card counts the owner's transactions and, separately, the redemptions against the Trove; the timeline lists every event, the manager's rate changes and the redemptions among them.
- Closed: the owner closed it. Liquidated: the whole Trove fell below the branch's minimum ratio; the Stability Pool took the collateral at a 5% penalty, the owner can claim any surplus, and any shortfall in the pool went to the branch's other Troves, raising their debt and collateral while they did nothing.
- Lifetime flows total every borrow, repayment, fee and redemption, with the net result.
- The timeline lists each event, newest first.
Branches page
- Each branch's debt, collateral, Trove count, rate span, total collateral ratio (TCR) and minimum ratios.
- Below its shutdown ratio, or with a failed price feed, a branch shuts down: borrowing, adjustments, rate changes and batch operations stop; closing and redemptions continue.
- A queue link per branch opens its Troves in redemption order. Open the branches.
An (i) on the card, the flows panel and each event explains its figures; the ? at the bottom right of the (i) panel opens what that kind of event means in Liquity V2, with sources.