Trusset Protocol - Infrastructure for Asset Tokenization

POST

lending-external-securities

api

liquidations

{marketId}

settle-expired-auction

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/{marketId}/settle-expired-auction" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"auctionId": 3}'

{
  "success": true,
  "data": {
    "action": "SIGN_TRANSACTION",
    "transaction": { "to": "0x70A0...", "data": "0x..." },
    "functionName": "settleExpiredAuction"
  }
}

{
  "success": true,
  "data": {
    "txHash": "0xabc...def",
    "auctionId": 3
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATOR_ROLE_MISSING",
    "message": "Issuer wallet 0x123...456 does not hold LIQUIDATOR_ROLE on market 0x70A0...9c2d. Grant it via the market configuration flow.",
    "calldata": {
      "to": "0x70a0e25c7b768b87e658348b3b577678a173e038",
      "data": "0x...",
      "description": "Grant LIQUIDATOR_ROLE to the issuer wallet (requires market DEFAULT_ADMIN_ROLE)"
    }
  }
}

{
  "success": false,
  "error": {
    "code": "SETTLE_PREFLIGHT_FAILED",
    "message": "Transaction reverted on-chain"
  }
}

Closes a Dutch auction that reached its end time without selling out, and transfers the unsold collateral to the market’s liquidation router. This creates a pending liquidation and hands the position over to the manual settlement workflow. Until this is called, an expired auction leaves the collateral in limbo: no longer purchasable, and not yet available for an off-platform sale.

Requires the registered wallet to hold LIQUIDATOR_ROLE on the market, the same role Liquidate Loan needs.

Path Parameters

string

required

Market ID.

Body Parameters

integer

required

Auction ID. Must be a positive integer sent as a JSON number.

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

Transaction hash. Returned when confirming with txHash.

integer

Auction ID, echoed back. Returned when confirming with txHash.

string

SIGN_TRANSACTION when txHash is omitted.

object

{ to, data } for the settleExpiredAuction call. Returned when txHash is omitted.

What Happens Next

After settlement the unsold collateral sits at the liquidation router as a PENDING liquidation, visible through Get Pending Liquidations. From there the standard manual workflow applies: withdraw for sale, report proceeds, settle. The 7 day write-off clock starts at this point, not at the original liquidation.

If the market has no liquidation router configured, the contract releases the collateral back to the borrower and charges the outstanding debt to the insurance fund instead. Confirm router configuration through Get Liquidation Config before letting auctions expire.

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/{marketId}/settle-expired-auction" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"auctionId": 3}'

{
  "success": true,
  "data": {
    "action": "SIGN_TRANSACTION",
    "transaction": { "to": "0x70A0...", "data": "0x..." },
    "functionName": "settleExpiredAuction"
  }
}

{
  "success": true,
  "data": {
    "txHash": "0xabc...def",
    "auctionId": 3
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATOR_ROLE_MISSING",
    "message": "Issuer wallet 0x123...456 does not hold LIQUIDATOR_ROLE on market 0x70A0...9c2d. Grant it via the market configuration flow.",
    "calldata": {
      "to": "0x70a0e25c7b768b87e658348b3b577678a173e038",
      "data": "0x...",
      "description": "Grant LIQUIDATOR_ROLE to the issuer wallet (requires market DEFAULT_ADMIN_ROLE)"
    }
  }
}

{
  "success": false,
  "error": {
    "code": "SETTLE_PREFLIGHT_FAILED",
    "message": "Transaction reverted on-chain"
  }
}

Errors

Code	HTTP	Cause
`LIQUIDATOR_ROLE_MISSING`	`400`	The registered wallet lacks `LIQUIDATOR_ROLE`. The error carries grant `calldata`
`RELAYER_NOT_CONFIGURED`	`400`	No verified wallet is registered on this instance
`SETTLE_PREFLIGHT_FAILED`	`400`	Simulation reverted. The auction has not expired, or was already settled
`SETTLE_FAILED`	`400`	The transaction failed on-chain
`NO_MARKET_ADDRESS`	`400`	The market has no on-chain address recorded

Bid on Auction

List Hooks

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/{marketId}/settle-expired-auction" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"auctionId": 3}'

{
  "success": true,
  "data": {
    "action": "SIGN_TRANSACTION",
    "transaction": { "to": "0x70A0...", "data": "0x..." },
    "functionName": "settleExpiredAuction"
  }
}

{
  "success": true,
  "data": {
    "txHash": "0xabc...def",
    "auctionId": 3
  }
}

{
  "success": false,
  "error": {
    "code": "LIQUIDATOR_ROLE_MISSING",
    "message": "Issuer wallet 0x123...456 does not hold LIQUIDATOR_ROLE on market 0x70A0...9c2d. Grant it via the market configuration flow.",
    "calldata": {
      "to": "0x70a0e25c7b768b87e658348b3b577678a173e038",
      "data": "0x...",
      "description": "Grant LIQUIDATOR_ROLE to the issuer wallet (requires market DEFAULT_ADMIN_ROLE)"
    }
  }
}

{
  "success": false,
  "error": {
    "code": "SETTLE_PREFLIGHT_FAILED",
    "message": "Transaction reverted on-chain"
  }
}

Overview

MiCA Register

Customers

Stock Tokenization

Trading

Stock Lending

External Securities Lending

Settle Expired Auction

Path Parameters

Body Parameters

Response Fields

What Happens Next

Errors

​Path Parameters

​Body Parameters

​Response Fields

​What Happens Next

​Errors

Path Parameters

Body Parameters

Response Fields

What Happens Next

Errors