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Liquidation

A stale position — one that's missed its check-in by more than 45 minutes — becomes eligible for liquidation through one of two paths.

Settle now (self-liquidation)​

Reveals your numbers. Needs a ZK proof.

  • You do: Only appears once your position is stale. Click Settle now — only works if you hold exactly one collateral asset and one debt asset.
  • On-chain: Circuit R proves your sealed commitment truly opens to the specific numbers you're about to reveal — you can't be lied to by your own client, and nobody else could have forged this without your salt. LiquidationHandler.liquidate() then requires you to actually pay the real debt amount in, and sends your own seized collateral back to you in the same transaction.
  • You see: A confirmation screen showing exactly what was repaid and what collateral came back. The position closes permanently — this wallet can't reopen a new one on this deployment, but a fresh deposit starts a brand-new position.

:::caution The multi-asset limit is real, not a bug Circuit R's scope is one collateral asset plus one debt asset. Two collateral assets (say, WETH and ZEN together) trips it even if your debt side is a single asset. :::

Third-party liquidation​

Public feed.

  • You do: Browse the Liquidations page — a live feed of every settled liquidation: position ID, assets involved, timestamp.
  • On-chain: liquidate() is technically callable by anyone with a valid reveal proof — but generating one needs the position's secret salt, which only its owner ever holds. In practice, this page is read-only for everyone but the position's own owner.
  • You see: No amounts on this feed by design — only what's cryptographically unavoidable (asset pair, position ID). Amounts are visible only by deliberately decoding that transaction's calldata.

An abandoned position — stale with an owner who never comes back — has a separate, bonded backstop mechanism after a much longer window: a third party can propose a liquidation using the position's public event history as its evidence, backed by a bond sized against that same claim. It's a genuinely different, rarer path, not part of everyday use.