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": "TIMEOUT_PREFLIGHT_FAILED",
    "message": "Not timed out"
  }
}

{
  "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

Global router liquidation ID. The market-local ID needed on-chain is resolved automatically.

Body Parameters

None.

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

Global router liquidation ID, echoed back.

string

Market-local ID the contract call used.

string

Transaction hash.

boolean

Nested inside data on the calldata response.

string

SIGN_TRANSACTION. Returned when txHash is omitted.

object

to (the market contract) and data. Returned when txHash is omitted.

string

handleLiquidationTimeout. Returned when txHash is omitted.

string

Address that signed, read from the receipt. Returned when confirming with txHash.

The 7 Day Window

The clock starts when the router receives the collateral, which is onChainData.timestamp on Get Pending Liquidations. Calling before 7 days have elapsed reverts with Not timed out under TIMEOUT_PREFLIGHT_FAILED.

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 registered 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. It surfaces as a generic TIMEOUT_PREFLIGHT_FAILED with no remediation calldata. Confirm the registered 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": "TIMEOUT_PREFLIGHT_FAILED",
    "message": "Not timed out"
  }
}

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

Errors

Code	HTTP	Cause
`LIQUIDATION_NOT_FOUND`	`404`	No liquidation with that ID on your instance, and none could be adopted from chain
`ALREADY_SETTLED`	`400`	The liquidation is already settled or written off
`TIMEOUT_PREFLIGHT_FAILED`	`400`	Simulation reverted. The 7 days have not elapsed, or the registered wallet lacks market `DEFAULT_ADMIN_ROLE`
`TIMEOUT_TX_REVERTED`	`400`	The transaction reverted after broadcast

Settle Liquidation

List Active Auctions

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": "TIMEOUT_PREFLIGHT_FAILED",
    "message": "Not timed out"
  }
}

{
  "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

Errors

​Path Parameters

​Body Parameters

​Response Fields

​The 7 Day Window

​What the Write-Off Does

​Errors

Path Parameters

Body Parameters

Response Fields

The 7 Day Window

What the Write-Off Does

Errors