# Begin Blocker At the start of every block the BeginBlocker of the cdp module: - updates total CDP fees - liquidates CDPs under the collateral ratio - nets out system debt and, if necessary, starts auctions to re-balance it - records the last block time ## Update Fees - The total fees accumulated since the last block across all CDPs are calculated. - An equal amount of debt coins are minted and sent to the system's CDP module account. - An equal amount of stable asset coins are minted and sent to the system's liquidator module account ## Liquidate CDP - Get every cdp that is under the liquidation ratio for its collateral type. - For each cdp: - Calculate and update fees since last update. - Remove all collateral and internal debt coins from cdp and deposits and delete it. Send the coins to the liquidator module account. - Start auctions of a fixed size from this collateral (with any remainder in a smaller sized auction), sending collateral and debt coins to the auction module account. - Decrement total principal. ## Net Out System Debt, Re-Balance - Burn the maximum possible equal amount of debt and stable asset from the liquidator module account. - If there is enough debt remaining for an auction, start one. - If there is enough surplus stable asset remaining for an auction, start one. - Otherwise do nothing, leave debt/surplus to accumulate over subsequent blocks. ## Update Previous Block Time The current block time is recorded.