# Liquidation

This section describes provides a high-level overview of Anchor Protocol's Liquidations contracts.

{% hint style="warning" %}
Even with a thorough understanding of Anchor Protocol, it is highly recommended to interact with Anchor through client channels such as the Anchor WebApp or [Anchor.js.](/anchor-2/developers-terra/anchor.js.md)
{% endhint %}

## Smart Contracts

| Contract                                                                                           | Function                                                 |
| -------------------------------------------------------------------------------------------------- | -------------------------------------------------------- |
| [Liquidation Contract \[Legacy\]](/anchor-2/smart-contracts/liquidations/liquidation-contract.md)  | OTC exchange contract for bAsset collateral liquidations |
| [Liquidation Queue Contract](/anchor-2/smart-contracts/liquidations/liquidation-queue-contract.md) | Contract for capital-efficient collateral liquidations   |


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