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liquidate

Force-close an underwater user's positions. Permissionless — anyone can call.

The contract closes the minimum set of positions needed to restore equity ≥ MM × (1 + liquidation_buffer_ratio), starting with the largest MM contributors. Closure runs against the order book first; any unfilled remainder is auto-deleveraged (ADL) against the most profitable counter- parties at the liquidated user's bankruptcy price. Liquidation fills (book and ADL) carry zero trading fees; the liquidation fee goes to the insurance fund, not the vault. See protocol book: perps/4-liquidation-and-adl.

Signature

def liquidate(self, user: Addr) -> dict[str, Any]

Example

from dango.exchange import Exchange
from dango.utils.types import Addr
 
exchange = Exchange(wallet, base_url, account_address=Addr("0x..."))
 
exchange.liquidate(Addr("0xunderwater"))

Parameters

user — Addr. The target trader's account address. The contract checks whether the target is actually liquidatable based on equity vs. maintenance margin; non-liquidatable targets are rejected by the chain.

Returns

dict[str, Any] — the BroadcastTxOutcome envelope.

Notes

  • No client-side validation: the chain's liquidatable-or-not check is authoritative.
  • The contract handler at dango/perps/src/maintain/liquidate.rs does NOT check the caller's identity — any signer can submit this message for any trader.

See also

  • user_state_extended — read equity / maintenance margin / liquidation price to find candidates