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Quantitative Finance · Glossaire

Qu'est-ce que « Loan-to-value ratio, health factor, liquidation bonus » ?

Aussi appelé : loan-to-value ratio · health factor · liquidation bonus

Definition 23.3 Markets III: Commodities, Energy and Crypto · Chapitre 23 — DeFi Credit and Leverage

The loan-to-value ratio of a collateral asset is the maximum a borrower may borrow per dollar of it. The health factor of an account is the sum over its collateral of value times liquidation threshold, divided by the value of its debt; below one, the account may be liquidated. The liquidation bonus is the discount at which a liquidator receives collateral for the debt it repays.

Health factor of a borrower with 100 ether of collateral (threshold 82.5%) and USD 240 000 of debt as the price of ether falls. Data: the chapter’s tutorial.
Figure 23.2. Health factor of a borrower with 100 ether of collateral (threshold 82.5%) and USD 240 000 of debt as the price of ether falls. Data: the chapter’s tutorial.
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