Loan - Liquidate

Loan - Liquidate

The following code example is provided to help you understand the business process. For commercial use, you must handle parameter validation and exception handling on your own.

This example is tested on the Polygon-Amoy chain. Information used in the example can be retrieved from the Source directory.

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Code Example

javascriptCopy code// Import web3js library
import Web3 from 'web3';
import ApproveTradeABI from '../abi/ApproveTrade.json';

// This example is tested on the Polygon-Amoy chain
const amoy_chainId = 80002;
const amoy_chainName = "AMOY";
const amoy_chainRpcUrl = "https://polygon-amoy.infura.io/v3/4ba314367838400fb88f2a1d0e14d42d";
const amoy_contract_ApproveTrade = "0xF1831ebb3f92A8607E644A1E54Fde4b09F6FE5dE";
const amoy_account = "0xA3932E6Dbf96983Ffdf43974c0BF7edE9fed76DF";

// Initialize web3 instance
// WalletProvider or HttpProvider
const web3 = new Web3("** Wallet **"); // window.ethereum
const Contract = new web3.eth.Contract(ApproveTradeABI, amoy_contract_ApproveTrade);

// 1. Liquidation Parameters
// Parameters are retrieved from the creator's history API.
//  -- `orderHash` can be found in the `f_order_hash` field.

const orderHash = "0x5973f68a96d2b67e9fb647b3f9c916c95ad308dd18cc06a7e70b27c3abcb70aa";

// 2. Initiate Liquidation Operation
const handleLiquidate = Contract.methods.liquidate([
    orderHash
]).send({
    from: amoy_account,
});

handleLiquidate.then(receipt => {
    console.log(receipt);
}).catch(error => {
    console.log(error);
});

Key Notes:

1. Order Hash: The orderHash must be retrieved from the creator's history API and is found in the f_order_hash field.

2. Liquidation Process: This operation triggers the liquidation of an overdue loan, allowing the lender to seize the collateral. No special handling is required for asset types or balances.

This example demonstrates how to initiate a loan liquidation on the Polygon-Amoy chain. Be sure to adjust the parameters as needed for your specific use case.