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      • Liquidate Loan
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  2. Liquidators

Liquidate Loan

If a borrower fails to make regular payments to their loan and the grace period has expired, the loan state will transition to 'defaulted'. After this happens, any account is allowed to repay the remaining owed principal+interest using the liquidateLoanFull() function of the TellerV2 contract. Once this happens, the loan state will transition to 'liquidated' and any collateral for the loan will be transferred to the liquidator.

/**
* @notice Function for users to liquidate a defaulted loan.
* @param _bidId The id of the loan to make the payment towards.
*/
function liquidateLoanFull(uint256 _bidId)
   external

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Last updated 2 years ago

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