Auctions
A backstop, not something you use. If a loan ever grows too large against the bonds behind it, those bonds are sold to repay the lenders, and anything left over goes back to the borrower.
- 01The whole position is auctioned as a single lot.
- 02The price decays linearly from 100% of NAV to a floor of 68%, over 6 hours.
- 03The winner pays USDC for the whole lot, the debt is repaid, and the surplus returns to the borrower. A winner DexFi has not whitelisted keeps bonds it can stake, deposit and borrow against, but cannot sell them peer to peer, because DexFi's whitelist gates every transfer.
- 04An unfilled lot falls back to DexFi manual redemption, in a workout queue.
- 05Repaying a workout in full closes the loan, but the bonds return only when the operator releases the lot, and no deadline binds that.
SHOW ME WHAT A LIVE LOT LOOKS LIKEILLUSTRATIVE · NOT FROM CHAIN
An invented auction with a decaying price and a bid button, so the shape of a live lot is visible without anything on this page pretending one exists. The bid path is not built yet either way.
AUCTION #7
BORROWER
0xE39c…7A10
LOT
263 bonds
NAV $5,739.82
CURRENT PRICE
$4,968.39
for the whole lot, 86.6% of NAV
OUTSTANDING DEBT
$2,290.40
PRICE DECAY - 100% → 68% OF NAV OVER 6H
$5,740$3,903
0hnow · 2.5h · $4,968.396h
Price falls linearly until someone bids. Unfilled auctions fall back to DexFi manual redemption (workout queue).