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Tigris Protocol — Liquidation Function Reactivated

TTC | 03.16| 90

Tigris Protocol — Liquidation Function Reactivated

all the CDS cases with the Collateral Ratio over 90% were liquidated.

As of 2020/03/16 12:00 (UTC+8), the liquidation function of Tigris Protocol was reactivated. Simultaneously, all the CDS cases with the Collateral Ratio over 90% were liquidated.

Overview

Here are some key numbers related to today’s event.

Liquidated Collateralized Assets

- 12,459,622 TTC
- 15,917,563 CLAY

Loan Related to Liquidated CDS Cases

- 199,249,374 CKRW
- 238,096.6 CUSD
- 57.7 CCNY

Process

Tigris Protocol is designed to liquidate a CDS case as soon as its Collateral Ratio reaches 90%. However this time, since the liquidation function has been inactive, we had several CDS cases with Collateral Ratio exceeding 100%. As a result, a loss of 2,954,930.5774 TTC occurred and TTC Foundation filled this loss with the TTC Foundation’s Ecosystem Fund.

The total amount of service fee occurred during the liquidation process was 511,639 CLAY. The payment was paid with Tigris Protocol’s Ecosystem Building Fund and added to the Tigris Reserve.

As a result of today’s liquidation, A total voting counts through SAVE decreased by 12.5m TTC and 15.9m CLAY has been removed from the staking.

With today’s reactivation of the liquidation function, Tigris Protocol took a step closer to more stable and more decentralized DeFi ecosystem. To learn more about Tigris Protocol, join our Telegram and follow us on twitter.

— TTC Foundation

About Tigris Protocol
Tigris Protocol is an open, trusted and interoperable Decentralized Financial (DeFi) service built on the TTC Blockchain Platform. It provides effortless crypto loans, stable daily rewards, and paramount security. For details, visit our website.To receive the latest news on Tigris Protocol, join our Telegram and follow us on twitter.
About TTC
TTC is a blockchain fit for mass adoption and a sustainable token economy model. For details, visit our website.To receive the latest news on TTC, join our Telegram and follow us on twitter.

Tigris Protocol — Liquidation Function Reactivated was originally published in TTC — Official Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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