Trusset Protocol - Infrastructure for Asset Tokenization

POST

lending-external-securities

api

liquidations

handle-timeout

{liquidationId}

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json"

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    }
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "marketLiquidationId": "2",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATION_NOT_TIMED_OUT",
    "message": "Liquidation 14 cannot be written off yet.",
    "eligibleAt": "2025-06-22T11:30:00.000Z"
  }
}

{
  "success": false,
  "error": {
    "code": "ALREADY_SETTLED",
    "message": "Already settled or written off"
  }
}

Writes off a liquidation the operator was unable to settle. The market clears the outstanding debt, draws on the insurance fund to cover it, and reconciles the pool’s liquidity. The record moves to WRITTEN_OFF. This is a loss-recognition step, not a recovery step. Use it when collateral proved unsellable within the window, or when a sale realised nothing.

Write-off does not touch the liquidation router. Whatever collateral the router still holds stays there, and the backend will refuse further action on the record because WRITTEN_OFF is terminal. Dispose of or return the collateral before calling this, otherwise it is stranded.

Path Parameters

string

required

Liquidation ID on the market’s router. The market-local ID needed on-chain is resolved automatically.

Body Parameters

string

Names the market whose liquidation you mean. Every market runs its own liquidation router and IDs restart at 1 on each of them, so the same liquidationId can exist on several markets in one instance. Supply this when it does, otherwise the call is refused with AMBIGUOUS_LIQUIDATION_ID and the response lists the candidates.

string

Hash of the transaction you broadcast for this operation. Send it to confirm the transaction and record the result. Omit it to receive the calldata.

Response Fields

object

Show child attributes

string

Router liquidation ID, echoed back.

string

Market-local ID the contract call used. Returned when confirming with txHash.

string

Transaction hash. Returned when confirming with txHash.

boolean

Nested inside data on the calldata response.

string

SIGN_TRANSACTION. Returned when txHash is omitted.

object

Unsigned transaction, { to, data, value, chainId }, targeting the market contract. Returned when txHash is omitted.

string

handleLiquidationTimeout. Returned when txHash is omitted.

The 7 Day Window

The clock starts when the router receives the collateral, which is onChainData.timestamp on Get Pending Liquidations. Calling before the window has elapsed is refused with LIQUIDATION_NOT_TIMED_OUT, and the error carries eligibleAt so the retry time is exact.

What the Write-Off Does

Close the pending liquidation

The market marks its pending liquidation settled so the debt stops counting against pendingLiquidationDebt.

Draw on the insurance fund

The outstanding debt is presented to the market’s insurance fund, which covers as much as its balance allows.

Reconcile the pool

Any shortfall between the covered amount and the principal is deducted from pool liquidity. Liquidity providers absorb what the insurance fund could not.

This call requires the signing wallet to hold DEFAULT_ADMIN_ROLE on the market contract, which is a higher privilege than the LIQUIDATOR_ROLE and router OPERATOR_ROLE the other liquidation endpoints need. Unlike those endpoints, a missing role is not detected in advance and carries no remediation calldata: it reverts on-chain and surfaces as TIMEOUT_TX_REVERTED. Confirm the wallet holds market admin before relying on this path.

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json"

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    }
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "marketLiquidationId": "2",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATION_NOT_TIMED_OUT",
    "message": "Liquidation 14 cannot be written off yet.",
    "eligibleAt": "2025-06-22T11:30:00.000Z"
  }
}

{
  "success": false,
  "error": {
    "code": "ALREADY_SETTLED",
    "message": "Already settled or written off"
  }
}

Error Codes

Code	HTTP	Cause
`MISSING_ID`	`400`	No liquidation ID in the path
`AMBIGUOUS_LIQUIDATION_ID`	`400`	This ID exists on more than one market in your instance. The error carries `candidates`; resend with `marketId`
`ALREADY_SETTLED`	`400`	The liquidation is already settled or written off
`LIQUIDATION_NOT_TIMED_OUT`	`400`	The window has not elapsed. The error carries `eligibleAt`
`TX_NOT_VERIFIED`	`400`	The confirmed transaction targets a different liquidation
`TIMEOUT_TX_REVERTED`	`400`	The write-off reverted. `error.txHash` carries the hash when one exists
`TIMEOUT_FAILED`	`400`	The write-off could not be prepared and no more specific code applied
`LIQUIDATION_NOT_FOUND`	`404`	No liquidation with that ID on your instance, and none could be adopted from chain
`MARKET_NOT_FOUND`	`404`	`marketId` was supplied but names no market on your instance

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json"

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/handle-timeout/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    }
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "marketLiquidationId": "2",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATION_NOT_TIMED_OUT",
    "message": "Liquidation 14 cannot be written off yet.",
    "eligibleAt": "2025-06-22T11:30:00.000Z"
  }
}

{
  "success": false,
  "error": {
    "code": "ALREADY_SETTLED",
    "message": "Already settled or written off"
  }
}

Overview

MiCA Register

Customers

Stock Tokenization

Trading

Stock Lending

External Securities Lending

Handle Liquidation Timeout

Path Parameters

Body Parameters

Response Fields

The 7 Day Window

What the Write-Off Does

Error Codes

​Path Parameters

​Body Parameters

​Response Fields

​The 7 Day Window

​What the Write-Off Does

​Error Codes

Path Parameters

Body Parameters

Response Fields

The 7 Day Window

What the Write-Off Does

Error Codes