How to participate in liquidation
Access WEMIX.Fi Lend & Borrow
Go to WEMIX.Fi Lend & Borrow and click the Lend & Borrow menu on the main page.
Select 'Liquidation Center'
Select Liquidation Center to view a list of addresses eligible for liquidation. You can repay the debt and profit by buying collateral at a discounted price.
View liquidatable accounts
On the Liquidation Center page, you can view a list of addresses eligible for liquidation. The liquidator can see the type of asset to repay and receive through liquidation.
Before proceeding with liquidation, ensure that you have enough tokens to liquidate the account. If you do not have enough tokens, you must either obtain more tokens or select another account to liquidate.
If you have sufficient balance to liquidate an account, you can repay the amount of debt indicated on the screen and acquire a portion of collateral asset to gain profit.
Confirm and approve liquidation
After selecting an account to liquidate, check and approve the liquidation through the pop-up screen. This screen allows you to review the input information and adjust any incorrect details. If all contents are correct, press the Confirm button to approve and initiate transaction.
Before proceeding with liquidation, consider gas fees. If a user tries to liquidate an account with a small amount of debt, the gas fee may exceed the expected profit. Users must calculate the cost and compare with the return before proceeding to liquidation. Please choose the account for liquidation carefully.
Once you have approved the transaction and it has been successfully executed on the blockchain, a Liquidation complete pop-up will appear in the upper right corner of your screen.
Check liquidation history
All transactions of liquidation are recorded and can be viewed by checking the history. This allows you to see the results of your past liquidations and keep track of your activity on WEMIX.Fi Lend & Borrow.
