About this explorer

LlamaLend is Curve's lending protocol, and its liquidation is a band rather than a line. Each market is isolated — one collateral token, one borrowed token — and holds its collateral in an AMM across a range of prices. When the price falls into a position's band, the AMM converts its collateral to the borrowed token continuously: soft-liquidation, a state a position lives in rather than an event that ends it. When the price rises back, the AMM buys the collateral back. The swap reverses; the losses do not: each sale is below the oracle price and each buy-back above it. Hard liquidation needs the position's health below 0, and then anyone may repay its debt, in full or in part, and take what it holds.

Each row of the listing is one position — a market and a borrower — showing its collateral, its debt, and how much of the collateral currently stands converted. Or see every market and its own terms.