Liquidation
OT uses Mark Price(Oracle price) as benchmark for liquidation and profit calculation.
A position is liquidated when its margin rate is equal to maintenance margin rate.
(IMR)Initial Margin Rate = 1/leverage * 100%
Margin rate = (Margin + PnL Âą fundingFee) / Position notional value
= (Margin + PnL Âą fundingFee) / (Position size(coin) * mark price)
(MMR)Maintenance Margin Rate = if (IMR/2 > allowMaxMmr) {allowMaxMmr}
if(IMR/2 < allowMinMmr,){allowMinMmr}
else {IMR/2}
IMR and MMR are recalculated when extra margin is added or removed from a position.
| Index token | allowMaxMmr | allowMinMmr |
|---|---|---|
BTC | 1.3% | 0.8% |
ETH | 1.3% | 0.9% |
USDT | 0.9% | 0.5% |
Cheems | 6% | 3% |
MAV(Maverick Protocol) | 2% | 1.5% |
VELA | 2% | 1.5% |
ARKM | 2% | 1.5% |
OT | 2% | 1.5% |
BNB | 1.6% | 1.2% |
Matic | 3% | 1.5% |
Arbi | 1.6% | 1.2% |
ZKS | 1.5% | 0.9% |
Doge | 2% | 1.2% |
APT | 1.9% | 1.2% |
Sui | 1.8% | 1.2% |
USDC | 1% | 0.5% |
USDT | 1% | 0.5% |
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