Auction
95% of the liquidated assets will be auctioned in the form of Dutch Auctions.
All auctions have a one-day publicity period, followed by a one-day bidding period.
In order to reduce unnecessary fees incurred, we use Dutch Auctions. That is, starting at twice the borrowing amount, the price will be reduced linearly by time and will be reduced to 0 after day 1. The first person to bid will get the assets during the auction period.
For example: I stake 1 ETH and borrowed 2000 TAI. And I got liquidated due to the drop in the price of ETH. This 1 ETH will be auctioned-off. The starting price will be 4000 TAI, and your bid requirement is greater than "4000*(starting time + 24 hours - current time) / 24 hours".
Last modified 1yr ago