The Liquidation Engine

The maintenance margin is calculated based on a stress testing scenario. So basically we scan how much your profit and losses will be given Bitcoin moves up or down 15%. And within the 15% up or down range, we find out the maximum loss your portfolio can occur to charge that as a maintenance margin. If your maintenance margin is 100% of your equity and liquidation will happen, we did a partial liquidation engine. That means instead of taking your entire portfolio in one go, which is quite common in delta one products,. We will find out the position that's most helpful to you to reduce your risk level. For example, we can find out a short food option or a short co-