Liquidation rules

When users deposit mainstream currency (BTC/ETH/MATIC…) or PXT as collateral (Collateral) into the betting account, since the betting account uses USDC as the unit of denomination, there is a risk of liquidation due to the fall of the collateral.

Liquidation Basis: Collateral value (liquidation) + profit and loss＜ bet amount

Collateral value (liquidation) = collateral market value × discount coefficient (liquidation)

Discount coefficient (liquidation): 0 < discount coefficient (liquidation) ≤ 1.0. The stable currency is 1.0, the mainstream currency is less than 0.9, and the PXT is less than 0.75. For details, please refer to the discount coefficient table.

When the collateral value (liquidation) + profit and loss < the bet amount, the liquidation is triggered, and the platform liquidation engine takes over the account to be liquidated. Basic liquidation process: All the user's bet positions are sorted according to the betting amount from small to large, and the positions are closed in order, until the collateral value (liquidation) + profit and loss ≥ the bet amount to terminate the liquidation.