Liquidate Position
Liquidate risky positions to earn liquidation bonuses.
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Liquidate risky positions to earn liquidation bonuses.
Last updated
Was this helpful?
On the Nitron Liquidations page, it is easy to liquidate a position at risk to earn a liquidation bonus.
Follow the steps below to liquidate a position:
Step 1: Hop onto Demex, click “Earn” in the navigation menu and click “Nitron Liquidations” under the dropdown bar.
The Nitron Liquidation page opens up as shown below.
The page above shows the market of all borrowers at risk of liquidation. You can view their health factor, collateral, debt and so on.
Click on any of the “Liquidate” buttons of the borrowers according to what collateral you’d like to seize and the bonus you would like to earn from liquidation.
Step 2:
On clicking the “Liquidate” button, you can view the full details of the borrower such as the debt and collateral available as well as the borrower’s health factor, which is shown down below.
Click on the “Repay” or “Liquidate” button to repay the borrow’s debt.
Step 3:
The Repay and Liquidate page opens up.
You can repay the loan with any of your desired assets if you have sufficient balance from your wallet, lent amount or collateral.
You can also click on the settings [⚙️] button in this window to adjust your price tolerance settings as shown down below:
Note that setting a high tolerance will allow you to liquidate the risky position within a higher range if the price changes.
At the same time, setting a lower tolerance will lead to your liquidation being reverted or failing if the price changes beyond your tolerance settings range. By default, the price tolerance is set at 1%.
Step 4:
Click on the “Repay & Liquidate” button to finalise your transaction.
Congratulations! You have successfully liquidated a borrower and earned a liquidation bonus.
