Hello Warp Community,
We are happy to present this week’s dev log. As an update from last week, we had several bugs and stability improvements that came up during our review cycle. These updates are being worked on, implemented, and deployed to ensure stability and usability. We appreciate the support and patience from our community members as we continue to prioritize that the long-awaited launch is stable and bug-free. Additionally, our business development team is focused on further innovative features, strong ecosystem incentives, and future partnerships.
Dev Update Details
The liquidation function, now completed, enables the user to liquidate an underwater borrow position. The liquidation position will be triggered in case the value of borrowed assets reaches 75% of users’ deposited collateral. For now, the program searches for accounts to liquidate. An identified account, then eligible for liquidation, will need to call the function in the smart contract. The program searches for unhealthy accounts, identifies a liquidation opportunity and sends a transaction to users. In the final lap, transactions are processed and profit is realized.
To ensure that we automate the process of monitoring current values of borrowed assets and deposited collateral of users, we carried out the following activities:
- Reviewed relevant contracts on the Warp webflow and designed a solution to the liquidation.
- Resolved any improvements/feedback implementation suggestions from our review cycle thus far, implemented the logic behind the calculation of those token values involving price oracles, and set up a base of communication between various components of this entire system.
- Tested and implemented requested communication with the bots and other necessary factors in the liquidation process (data store and value calculation).
We will continue to make improvements and revert to the community with any updates. As always, we strive for transparency in our progress and will continue with the Dev Logs. Please share any questions you have with our community managers on Discord.
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