Trusset Protocol - Infrastructure for Asset Tokenization

POST

lending-external-securities

api

liquidations

settle

{liquidationId}

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/settle/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"usdcProceeds": "21400.00"}'

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/settle/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    },
    body: JSON.stringify({ usdcProceeds: '21400.00' })
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "usdcProceeds": "21400.00",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "NO_PROCEEDS_COLLECTED",
    "message": "No proceeds have been collected for this liquidation"
  }
}

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

Closes a liquidation by forwarding the cumulative proceeds from the router to the lending market. This repays the pool, pays any surplus to the borrower, and marks the record SETTLED. This is the final step of the manual settlement workflow. Until it is called, the liquidated debt remains outstanding on the market and counts against pendingLiquidationDebt.

Path Parameters

string

required

Global router liquidation ID.

Body Parameters

string

required

Final proceeds to deposit before settling, in the market’s borrow asset. Must be zero or greater.Send the full sale proceeds when settling in one step. Send "0" when the proceeds were already deposited through Report Partial Sale, and the router forwards what it already holds.

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.

The signing wallet must hold OPERATOR_ROLE on the router. If it does not, the calldata is not returned: the response carries ROUTER_OPERATOR_ROLE_MISSING along with the calldata that grants the role. When usdcProceeds is greater than zero that wallet must also hold the proceeds, since settlement pulls them from it.

Response Fields

object

Show child attributes

string

Liquidation ID, echoed back.

string

Amount submitted on this call, echoed back. This is not the cumulative total forwarded to the market.

string

Transaction hash.

boolean

Nested inside data on the calldata response.

string

SIGN_TRANSACTIONS. Returned when txHash is omitted.

array

Ordered approve on the borrow asset, then settleLiquidation. Returned when txHash is omitted. The approve step is omitted when usdcProceeds is zero.

string

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

Proceeds Distribution

The market keeps at most the liquidated debt plus the market’s liquidationPenalty. Anything above that is surplus and belongs to the borrower. Surplus is pushed directly to the borrower’s wallet. If the settlement token rejects that transfer on compliance grounds, the amount is escrowed on the market contract against the borrower’s address instead of reverting the settlement, and the borrower claims it later. Settlement therefore always completes, whether or not the borrower can currently receive funds. When proceeds fall short of the debt, the shortfall is recorded as slippage on the settlement event. The pool absorbs the loss. It is not automatically covered by the insurance fund, which only steps in on a timeout write-off.

Settling with zero proceeds is rejected with NO_PROCEEDS_COLLECTED unless the router already holds proceeds from a reported partial sale. This prevents accidentally closing a liquidation that recovered nothing, which would silently write off the debt against the pool.

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/settle/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"usdcProceeds": "21400.00"}'

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/settle/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    },
    body: JSON.stringify({ usdcProceeds: '21400.00' })
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "usdcProceeds": "21400.00",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "NO_PROCEEDS_COLLECTED",
    "message": "No proceeds have been collected for this liquidation"
  }
}

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

Errors

Code	HTTP	Cause
`MISSING_ID`	`400`	No liquidation ID in the path
`INVALID_AMOUNT`	`400`	`usdcProceeds` is absent, non-numeric, or negative
`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
`NO_PROCEEDS_COLLECTED`	`400`	Zero was submitted and the router holds no proceeds
`ROUTER_OPERATOR_ROLE_MISSING`	`400`	The registered wallet lacks `OPERATOR_ROLE`. The error carries grant `calldata`
`ROUTER_NOT_CONFIGURED`	`400`	No liquidation router resolved for this market
`SETTLE_PREFLIGHT_FAILED`	`400`	Simulation reverted, commonly an insufficient balance on the signing wallet
`SETTLE_TX_REVERTED`	`400`	The transaction reverted after broadcast. `error.txHash` carries the hash

Report Partial Sale

Handle Liquidation Timeout

curl -X POST "https://api.trusset.org/lending-external-securities/api/liquidations/settle/14" \
  -H "X-API-Key: trusset_your_key_here" \
  -H "Content-Type: application/json" \
  -d '{"usdcProceeds": "21400.00"}'

const res = await fetch(
  `https://api.trusset.org/lending-external-securities/api/liquidations/settle/${liquidationId}`,
  {
    method: 'POST',
    headers: {
      'X-API-Key': 'trusset_your_key_here',
      'Content-Type': 'application/json'
    },
    body: JSON.stringify({ usdcProceeds: '21400.00' })
  }
);
const { success, data, error } = await res.json();

{
  "success": true,
  "data": {
    "liquidationId": "14",
    "usdcProceeds": "21400.00",
    "txHash": "0xabc...def"
  }
}

{
  "success": false,
  "error": {
    "code": "NO_PROCEEDS_COLLECTED",
    "message": "No proceeds have been collected for this liquidation"
  }
}

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

Overview

MiCA Register

Customers

Stock Tokenization

Trading

Stock Lending

External Securities Lending

Settle Liquidation

Path Parameters

Body Parameters

Response Fields

Proceeds Distribution

Errors

​Path Parameters

​Body Parameters

​Response Fields

​Proceeds Distribution

​Errors

Path Parameters

Body Parameters

Response Fields

Proceeds Distribution

Errors