Liquidation Queue Contract

The Liquidation contract enables users to submit Terra stablecoin bids for a Cw20-compliant token. Bidders can submit a bid to one of the bid pools; each of the pools deposited funds are used to buy the liquidated collateral at different discount rates. There are 31 slots per collateral, from 0% to 30%; users can bid on one or more slots.

Upon execution of a bid, Cw20 tokens are sent to the bidder, while the bidder's Terra stablecoins are sent to the repay address (if not specified, sent to message sender). A portion of the collateral value liquidated will be given to the address triggering the liquidation (liquidator_fee).

Bids are consumed from the bid pools in increasing order of premium rate (e.g 2% bids are only consumed after 0% and 1% pools are emptied). The liquidated collateral is then distributed to the bidders in the affected pools in proportion to their bid amount. The respective collateral should be claimed by the bidders.

To prevent bots from sniping loans, submitted bids can only be activated after wait_period has expired, unless the total bid amount falls under the bid_threshold, in which case bids will be directly activated upon submission.

Additionally, the Liquidation contract serves as the point of calculation for partial collateral liquidations, where a loan position is liquidated until it reaches a safe borrow_amount / borrow_limit ratio. The required liquidation amount for each collateral is calculated based on the fed-in loan position's attributes and the state of the bid pools.

The oracle contract is responsible for providing the relevant Cw20 token prices. Price data from the Oracle contract are only valid for 60 seconds (price_timeframe). The Liquidation contract disables bid executions until new price data is fed in to the Oracle contract.

Config

Key	Type	Description
owner	CanonicalAddr	Address of contract owner that can update config
oracle_contract	CanonicalAddr	Contract address of Oracle
stable_denom	String	Native token denomination for bids
safe_ratio	Decimal256	A liability / borrow limit ratio of a loan deemed safe
liquidator_fee	Decimal256	Fee rate given to the executor
bid_fee	Decimal256	Fee rate applied to all executed liquidations
liquidation_threshold	Uint256	Threshold collateral value for partial collateral liquidations
price_timeframe	u64	Window of time before oracle price data is considered outdated [seconds]
waiting_period	u64	Time after submitted bids can be activated [seconds]
overseer	CanonicalAddr	Contract address of Overseer

InstantiateMsg

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct InstantiateMsg {
    pub owner: String,
    pub oracle_contract: String,
    pub stable_denom: String,
    pub safe_ratio: Decimal256,
    pub bid_fee: Decimal256,
    pub liquidator_fee: Decimal256,
    pub liquidation_threshold: Uint256,
    pub price_timeframe: u64,
    pub waiting_period: u64,
    pub overseer: String,
}

JSON

{
  "owner": "terra1..", 
  "oracle_contract": "terra1...", 
  "stable_denom": "uusd", 
  "safe_ratio": "0.8", 
  "bid_fee": "0.01", 
  "liquidator_fee": "0.01",
  "liquidation_threshold": "500", 
  "price_timeframe": 60,
  "waiting_period": 600,
  "overseer": "terra1..."
}

Key	Type	Description
owner	String	Address of contract owner that can update config
oracle_contract	String	Contract address of Oracle
stable_denom	String	Native token denomination for bids
safe_ratio	Decimal256	A liability / borrow limit ratio of a loan deemed safe
bid_fee	Decimal256	Fee rate applied to executed bids
liquidator_fee	Decimal256	Fee rate given to the executor
liquidation_threshold	Uint256	Threshold collateral value for triggering partial collateral liquidations
price_timeframe	u64	Window of time before oracle price data is considered outdated [seconds]
waiting_period	u64	Time after submitted bids can be activated [seconds]
overseer	String	Contract address of Overseer

ExecuteMsg

Receive

Can be called during a CW20 token transfer when the Liquidation contract is the recipient. Allows the token transfer to execute a Receive Hook as a subsequent action within the same transaction.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
    Receive {
        sender: String, 
        amount: Uint128, 
        msg: Binary, 
    }
}

JSON

{
  "receive": {
    "sender": "terra1...", 
    "amount": "10000000", 
    "msg": "eyAiZXhlY3V0ZV9tc2ciOiAiYmluYXJ5IiB9" 
  }
}

Key	Type	Description
sender	String	Sender of the token transfer
amount	Uint128	Amount of tokens received
msg	Binary	Base64-encoded string of JSON of Receive Hook

UpdateConfig

Updates the Liquidation contract's configuration. Can only be issued by the owner.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg { 
    UpdateConfig {
        owner: Option<String>,
        oracle_contract: Option<String>,
        safe_ratio: Option<Decimal256>,
        bid_fee: Option<Decimal256>,
        liquidator_fee: Option<Decimal256>,
        liquidation_threshold: Option<Uint256>,
        price_timeframe: Option<u64>,
        waiting_period: Option<u64>,
        overseer: Option<String>,
    }
}

JSON

{
  "update_config": {
    "owner": "terra1...", 
    "oracle_contract": "terra1...", 
    "safe_ratio": "0.8", 
    "bid_fee": "0.01", 
    "liquidator_fee": "0.01",
    "liquidation_threshold": "200000000", 
    "price_timeframe": 60,
    "waiting_period": 600,
    "overseer": "terra1..."
  }
}

Key	Type	Description
owner*	String	Address of new owner
oracle_contract*	String	New oracle contract address
safe_ratio*	Decimal256	New liability / borrow limit of a loan deemed safe
bid_fee*	Decimal256	New fee rate applied to executed bids
liquidator_fee*	Decimal256	Fee rate given to the executor
liquidation_threshold*	Uint256	New threshold collateral value for triggering partial collateral liquidations
price_timeframe*	u64	New window of time before price data is considered outdated [seconds]
waiting_period*	u64	Time after submitted bids can be activated [seconds]
overseer*	String	Contract address of Overseer

* = optional

WhitelistCollateral

Whitelist a new collateral token. Can only be issued by the owner.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg { 
    WhitelistCollateral {
        collateral_token: String,
        bid_threshold: Uint256,
        max_slot: u8,
        premium_rate_per_slot: Decimal256,
    }
}

JSON

{
  "whitelist_collateral": {
    "collateral_token": "terra1...", 
    "bid_threshold": "200000000", 
    "max_slot": 30,
    "premium_rate_per_slot": "0.01",
  }
}

Key	Type	Description
collateral_token	String	Address of the collateral token to whitelist
bid_threshold	Uint256	Bid amount threshold under which bids will be activated upon submission
max_slot	u8	Maximum premium slot
premium_rate_per_slot	Decimal256	Premium rate increase for each slot

UpdateCollateralInfo

Update a whitelisted collateral configuration. Can only be issued by the owner.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg { 
    UpdateCollateralInfo {
        collateral_token: String,
        bid_threshold: Option<Uint256>,
        max_slot: Option<u8>,
    }
}

JSON

{
  "whitelist_collateral": {
    "collateral_token": "terra1...", 
    "bid_threshold": "200000000", 
    "max_slot": 30,
  }
}

Key	Type	Description
collateral_token	String	Address of the collateral token to whitelist
bid_threshold*	Uint256	Bid amount threshold under which bids will be activated upon submission
max_slot*	u8	Maximum premium slot

* = optional

SubmitBid

Submits a new bid for the specified Cw20 collateral to the specified premium slot. Requires Terra stablecoins to be sent beforehand. The premium rate on each slot can be calculated using the whitelisted collateral configuration (premium_slot * premium_rate_per_slot).

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
    SubmitBid {
        collateral_token: String, 
        premium_slot: u8, 
    }
}

JSON

{
  "submit_bid": {
    "collateral_token": "terra1...", 
    "premium_slot": 3
  }
}

Key	Type	Description
collateral_token	String	Cw20 token contract address of bidding collateral
premium_slot	u8	Premium rate slot to which the bid will be submitted to

ActivateBids

Activates the list of bids_idx for the specified collateral_token. Activates all bids with expired waiting_period of the bid_idx field is not filled.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
    ActivateBids {
        collateral_token: String,
        bids_idx: Option<Vec<Uint128>>, 
    }
}

JSON

{
  "activate_bids": {
    "collateral_token": "terra1...",
    "bids_idx": ["123","231"], 
  }
}

Key	Type	Description
collateral_token	String	Cw20 token contract address of bidding collateral
bids_idx*	Vec<Uint128>	List of bid unique identifiers

* = optional

RetractBid

Withdraws specified amount of stablecoins from the specified bid_idx. Withdraws the entire remaining bid if the amount field is not filled.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
    RetractBid {
        bid_idx: Uint128, 
        amount: Option<Uint256>, 
    }
}

JSON

{
  "retract_bid": {
    "bid_idx": "123", 
    "amount": "100000000" 
  }
}

Key	Type	Description
bid_idx	Uint128	Bid unique identifier
amount*	Uint256	Amount of stablecoins to remove from bid

* = optional

ClaimLiquidations

Claim the liquidated collateral accrued by the specified list of bids_idx. Claims all the pending collateral from user submitted bids if the bids_idx field is not filled.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum ExecuteMsg {
    ClaimLiquidations {
        collateral_token: String,
        bids_idx: Option<Vec<Uint128>>,
    }
}

JSON

{
  "claim_liquidations": {
    "collateral_token": "terra1...",
    "bids_idx": ["123","231"],  
  }
}

Key	Type	Description
collateral_token	String	Cw20 token contract address of bidding collateral
bids_idx*	Vec<Uint128>	List of bid unique identifiers

* = optional

Receive Hooks

ExecuteBid

Liquidates the sent collateral using the active bids on the bid pools, consuming bids with lower premium rates first. Can only be executed by a whitelisted collateral's Custody contract. Custody issues this message with fee_address as Overseer's contract address and repay_address as Market's contract address, where stablecoins from the bid is sent to the Market contract to repay a borrower's loan and fees are sent to the Overseer contract to be added to the interest buffer. The liquidator_fee is sent to the liquidator address that originally triggered the liquidation.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum Cw20HookMsg {
    ExecuteBid {
        liquidator: String, 
        fee_address: Option<String>, // Filled as Overseer contract's address
        repay_address: Option<String>, // Filled as Market contract's address
    }
}

JSON

{
  "execute_bid": {
    "liquidator": "terra1...", 
    "fee_address": "terra1...", // Filled as Overseer contract's address
    "repay_address": "terra1..." // Filled as Market contract's address
  }
}

Key	Type	Description
liquidator	String	Address of collateral liquidator to receive liquidator_fee from liquidation
fee_address*	String	Address to receive bid_fee from liquidation
repay_address*	String	Address to receive bid stablecoins from liquidation

* = optional

QueryMsg

Config

Gets the Liquidation Contract's configuration.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    Config {}
}

JSON

{
  "config": {}
}

ConfigResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct ConfigResponse {
    pub owner: String,
    pub oracle_contract: String,
    pub stable_denom: String,
    pub safe_ratio: Decimal256,
    pub bid_fee: Decimal256,
    pub liquidator_fee: Decimal256,
    pub liquidation_threshold: Uint256,
    pub price_timeframe: u64,
    pub waiting_period: u64,
    pub overseer: String,
}

JSON

{
  "owner": "terra1...", 
  "oracle_contract": "terra1...", 
  "stable_denom": "uusd", 
  "safe_ratio": "0.8", 
  "bid_fee": "0.01",
  "liquidator_fee": "0.01", 
  "liquidation_threshold": "200000000", 
  "price_timeframe": 60,
  "waiting_period": 600,
  "overseer": "terra1..."
}

Key	Type	Description
owner	String	Address of contract owner that can update config
oracle_contract	String	Contract address of Oracle
stable_denom	String	Native token denomination for bids
safe_ratio	Decimal256	A liability / borrow limit ratio of a loan deemed safe
bid_fee	Decimal256	Fee rate applied to all executed bids
liquidator_fee	Decimal256	Fee rate given to the executor
liquidation_threshold	Uint256	Threshold collateral value for partial collateral liquidations
price_timeframe	u64	Window of time before price data is considered outdated [seconds]
waiting_period	u64	Time after submitted bids can be activated [seconds]
overseer	String	Contract address of Overseer

CollateralInfo

Gets collateral specific configuration.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    CollateralInfo {
        collateral_token: String,
    }
}

JSON

{
  "collateral_info": {
      "collateral_token": "terra1..."
  }
}

Key	Type	Description
collateral_token	String	Token contract address

CollateralInfoResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct CollateralInfoResponse {
    pub collateral_token: String,
    pub bid_threshold: Uint256,
    pub max_slot: u8,
    pub premium_rate_per_slot: Decimal256,
}

JSON

{
  "collateral_token": "terra1...", 
  "bid_threshold": "5000000000000",
  "max_slot": 30,
  "premium_rate_per_slot": "0.01"
}

Key	Type	Description
collateral_token	String	Address of the collateral token whitelisted
bid_threshold	Uint256	Bid amount threshold under which bids will be activated upon submission
max_slot	u8	Maximum premium slot
premium_rate_per_slot	Decimal256	Premium rate increase for each slot

LiquidationAmount

Gets the amount of collaterals that needs to be liquidated in order for the borrower's loan to reach safe_ratio, based on the fed in borrower's status and the state of all bid pools.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    LiquidationAmount {
        borrow_amount: Uint256, 
        borrow_limit: Uint256, 
        collaterals: TokensHuman, 
        collateral_prices: Vec<Decimal>, 
    }
}

pub type TokensHuman = Vec<(String, Uint256)>;

JSON

{
  "liquidation_amount": {
    "borrow_amount": "10000000", 
    "borrow_limit": "10000000", 
    "collaterals": [
      ["terra1...", "100000000"], // (Cw20 contract address, Locked amount)
      ["terra1...", "100000000"] 
    ], 
    "collateral_prices": [
      "123.456789", // Price of collateral
      "123.456789" 
    ]
  }
}

Key	Type	Description
borrow_amount	Uint256	Liability of borrower
borrow_limit	Uint256	Borrow limit of borrower
collaterals	TokensHuman	Held collaterals and locked amounts
collateral_prices	Vec<Decimal>	Vector of collateral prices

Key	Type	Description
TokensHuman	Vec<(String, Uint256)>	Vector of (Collateral's token address, Amount of collateral locked by borrower)

LiquidationAmountResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct LiquidationAmountResponse {
    pub collaterals: TokensHuman, 
}

pub type TokensHuman = Vec<(String, Uint256)>;

JSON

{
  "collaterals": [
    ["terra1...", "100000000"], // (Cw20 Token address, Required liquidation amount to reach safe_ratio)
    ["terra1...", "100000000"] 
  ] 
}

Key	Type	Description
collaterals	TokensHuman	Calculated amount of collaterals to liquidate

Key	Type	Description
TokensHuman	Vec<(String, Uint256)>	Vector of (Collateral's token address, Amount that has to be liquidated)

Bid

Gets information about the specified bid_idx.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    Bid {
        bid_idx: Uint128, 
    }
}

JSON

{
  "bid": {
    "bid_idx": "123", 
  }
}

Key	Type	Description
bid_idx	Uint128	Bid unique identifier

BidResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct BidResponse {
    pub idx: Uint128,
    pub collateral_token: String,
    pub premium_slot: u8,
    pub bidder: String,
    pub amount: Uint256,
    pub product_snapshot: Decimal256,
    pub sum_snapshot: Decimal256,
    pub pending_liquidated_collateral: Uint256,
    pub wait_end: Option<u64>,
    pub epoch_snapshot: Uint128,
    pub scale_snapshot: Uint128,
}

JSON

{
  "idx": "123",
  "collateral_token": "terra1...", 
  "premium_slot": "10",
  "bidder": "terra1...", 
  "amount": "100000000", 
  "product_snapshot": "1.0",
  "sum_snapshot": "1.0",
  "pending_liquidated_collateral": "0",
  "wait_end": "1635228109",
  "epoch_snapshot": "0",
  "scale_snapshot": "0"
}

Key	Type	Description
bid_idx	Uint128	Bid unique identifier
collateral_token	String	Token contract address of bidding collateral
premium_slot	u8	Premium rate slot to which the bid is submitted to
bidder	String	Address of bidder
amount	Uint256	Amount of stablecoins put up in bid
product_snapshot	Decimal256	Snapshot of the bid pool's product at the time of activation
sum_snapshot	Decimal256	Snapshot of the bid pool's sum at the time of activation
pending_liquidated_collateral	Uint256	Amount of claimable collateral
wait_end	u64	Timestamp (seconds) when bid can be activated, empty if already active
epoch_snapshot	Uint128	Snapshot of the bid pool epoch at the time of activation
scale_snapshot	Uint128	Snapshot of the bid pool scale at the time of activation

BidsByUser

Gets information for all bids submitted by the specified bidder and collateral.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    BidsByUser {
        collateral_token: String,
        bidder: String, 
        start_after: Option<Uint128>, 
        limit: Option<u8>, 
    }
}

JSON

{
  "bids_by_user": {
    "collateral_token": "terra1...",
    "bidder": "terra1...", 
    "start_after": "123", 
    "limit": 8 
  }
}

Key	Type	Description
bidder	String	Address of bidder
start_after*	Uint128	User bid idx to start the query after
limit*	u8	Maximum number of query entries (capped at 31)

BidsByUserResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct BidsResponse {
    pub bids: Vec<BidResponse>, 
}

pub struct BidResponse {
    pub idx: Uint128,
    pub collateral_token: String,
    pub premium_slot: u8,
    pub bidder: String,
    pub amount: Uint256,
    pub product_snapshot: Decimal256,
    pub sum_snapshot: Decimal256,
    pub pending_liquidated_collateral: Uint256,
    pub wait_end: Option<u64>,
    pub epoch_snapshot: Uint128,
    pub scale_snapshot: Uint128,
}

JSON

{
  "bids": [
    {
      "idx": "12",
      "collateral_token": "terra1...", 
      "premium_slot": "10",
      "bidder": "terra1...", 
      "amount": "100000000", 
      "product_snapshot": "1.0",
      "sum_snapshot": "1.0",
      "pending_liquidated_collateral": "0",
      "wait_end": "1635228109",
      "epoch_snapshot": "0",
      "scale_snapshot": "0"
    }, 
    {
      "idx": "26",
      "collateral_token": "terra1...", 
      "premium_slot": "11",
      "bidder": "terra1...", 
      "amount": "200000000", 
      "product_snapshot": "1.0",
      "sum_snapshot": "1.0",
      "pending_liquidated_collateral": "0",
      "wait_end": "1635228109",
      "epoch_snapshot": "0",
      "scale_snapshot": "0"
    }
  ]
}

Key	Type	Description
bids	Vec<BidResponse>	Vector of user's bid information

Key	Type	Description
bid_idx	Uint128	Bid unique identifier
collateral_token	String	Token contract address of bidding collateral
premium_slot	u8	Premium rate slot to which the bid is submitted to
bidder	String	Address of bidder
amount	Uint256	Amount of stablecoins put up in bid
product_snapshot	Decimal256	Snapshot of the bid pool's product at the time of activation
sum_snapshot	Decimal256	Snapshot of the bid pool's sum at the time of activation
pending_liquidated_collateral	Uint256	Amount of claimable collateral
wait_end	u64	Timestamp (seconds) when bid can be activated, empty if already active
epoch_snapshot	Uint128	Snapshot of the bid pool epoch at the time of activation
scale_snapshot	Uint128	Snapshot of the bid pool scale at the time of activation

BidPool

Gets information about the bid pool for the specified collateral_token and bid_slot.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    BidPool {
        collateral_token: String,
        bid_slot: u8,
    },
}

JSON

{
  "bid_pool": {
    "collateral_token": "terra1...",
    "bid_slot": 10, 
  }
}

Key	Type	Description
collateral_token	String	Token contract address of bidding collateral
premium_slot	u8	Premium rate slot

BidPoolResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct BidPoolResponse {
    pub sum_snapshot: Decimal256,
    pub product_snapshot: Decimal256,
    pub total_bid_amount: Uint256,
    pub premium_rate: Decimal256,
    pub current_epoch: Uint128,
    pub current_scale: Uint128,
}

JSON

{
  "sum_snapshot": "1.0",
  "product_snapshot": "1.0",
  "total_bid_amount": "1000000",
  "premium_rate": "0.1",
  "current_epoch": "0",
  "current_scale": "0"
}

Key	Type	Description
sum_snapshot	Decimal256	Internal parameter that represents amount of collateral liquidated to be distributed
product_snapshot	Decimal256	Internal parameter that represents rate at which bids are consumed
total_bid_amount	Uint256	Total remaining bid amount for this pool
premium_rate	Decimal256	Discount rate at which the bid pool buys liquidated collateral
current_epoch	Uint128	Increases every time all bids in the bid pool are totally consumed
current_scale	Uint128	Increases every time product_snapshot is scaled, resets when epoch changes

BidPoolsByCollateral

Gets information about all bid pools for the specified collateral.

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
    BidPoolsByCollateral {
        collateral_token: String,
        start_after: Option<u8>,
        limit: Option<u8>,
    },
}

JSON

{
  "bid_pools_by_collateral": {
    "collateral_token": "terra1...", 
    "start_after": 1, 
    "limit": 10 
  }
}

Key	Type	Description
collateral_token	String	Token contract address of collateral
start_after*	u8	Premium slot to start the query after
limit*	u32	Maximum number of query entries (capped at 31)

* = optional

BidPoolsByCollateralResponse

Rust

#[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
pub struct BidPoolsResponse {
    pub bid_pools: Vec<BidPoolResponse>,
}

pub struct BidPoolResponse {
    pub sum_snapshot: Decimal256,
    pub product_snapshot: Decimal256,
    pub total_bid_amount: Uint256,
    pub premium_rate: Decimal256,
    pub current_epoch: Uint128,
    pub current_scale: Uint128,
}

JSON

{
  "bid_pools": [
    {
      "sum_snapshot": "1.0",
      "product_snapshot": "1.0",
      "total_bid_amount": "1000000",
      "premium_rate": "0.1",
      "current_epoch": "0",
      "current_scale": "0"
    }, 
    {
      "sum_snapshot": "1.0",
      "product_snapshot": "1.0",
      "total_bid_amount": "2000000",
      "premium_rate": "0.2",
      "current_epoch": "0",
      "current_scale": "0"
    }
  ]
}

Key	Type	Description
bid_pools	Vec<BidPoolResponse>	Vector of bid pools information

Key	Type	Description
sum_snapshot	Decimal256	Internal parameter that represents amount of collateral liquidated to be distributed
product_snapshot	Decimal256	Internal parameter that represents rate at which bids are consumed
total_bid_amount	Uint256	Total remaining bid amount for this pool
premium_rate	Decimal256	Discount rate at which the bid pool buys liquidated collateral
current_epoch	Uint128	Increases every time all bids in the bid pool are totally consumed
current_scale	Uint128	Increases every time product_snapshot is scaled, resets when epoch changes