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    TERRA 124: Anchoring LUNA

    Liquidation occurs when the LTV (loan-to-value) ratio exceed 60%. This means the amount that users borrowed exceed 60% of total collateral provided. Since $bLUNA is the main asset used as collateral in Anchor, of course it closely related to $LUNA price.

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    Graph below shows the liquidation volume and $LUNA price. We can see that small dip in $LUNA price has caused some liquidation to happen. The largest liquidation was in Sept 7th with over 35M liquidated when $LUNA price went down from $32 to $28 which is around 12.5% dip. In comparison, during May crash the price went down oveer 60% but liquidation is at 30M.