What is Auction-style Liquidation Strategy?
CoinEx Auction-style Liquidation Strategy will determine a target price range based on the optimal price, and submit limit orders according to the pricing tier. That is, every 2s, the order will be re-delegated with an increase or decrease to the optimal price by an amount equal to [Maintenance margin rate / 10]. This process of re-delegation will repeat until the position closes at the target price or the maximum time limit is reached.
This strategy helps ensure that in case of insufficient market liquidity, large liquidation orders can still be fully or partially executed within a certain time, rather than remaining open for an extended duration.
The Auction-style Liquidation Strategy will be applied, when
1. [TP/SL] is triggered
2. [Liquidate] is used
3. [Close Position] at the market price is used to close all positions.
4. [Stop-Market] is used.
1. If your position in a certain market is under the Auction-style Liquidation Strategy, no new orders will be allowed in the same market. You can ONLY place new orders after the strategy ends.
2. If forced liquidation or Auto-Deleveraging is triggered during the process, the Auction-style Liquidation Strategy will be stopped, and forced liquidation or Auto-Deleveraging will be executed.