Liquidation

Before the due time of repayment, liquidation will not be triggered. During the borrowing period, users can repay at any time, and the interest rate will change after each repayment.If the borrower has not repaid the debt by the due time, it will be deemed as a breach of contract, and a penalty of 1% of the debt will be incurred every day. If repayment is not made after three days, liquidation will be automatically initiated.

• Within 48 hours, the liquidity provider has the right to purchase. The purchase price is ( debt + interest ).

• If no liquidity provider makes a purchase, any liquidity provider can initiate a public auction and anyone can participate in public auction. If the auction fund is higher than the debt, the excess will be distributed according to the proportion of the occupied assets. If it is lower than the debt, the loss part is also distributed according to the proportion of the occupied assets.