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			2.2 KiB
		
	
	
	
	
	
	
	
			
		
		
	
	
			2.2 KiB
		
	
	
	
	
	
	
	
Begin Block
At the start of every block the BeginBlock of the cdp module:
- updates the status of the pricefeed for each collateral asset
 - If the pricefeed is active (reporting a price):
- updates fees for CDPs
 - liquidates CDPs under the collateral ratio
 
 - nets out system debt and, if necessary, starts auctions to re-balance it
 - pays out the savings rate if sufficient time has past
 - records the last savings rate distribution, if one occurred
 
Update Fees
- The total fees accumulated since the last block for each CDP are calculated.
 - If the fee amount is non-zero:
- Set the updated value for fees
 - Set the fees updated time for the CDP to the current block time
 - 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
 - Increment total principal.
 
 
Liquidate CDP
- Get every cdp that is under the liquidation ratio for its collateral type.
 - For each cdp:
- 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, minus surplus reserved for the savings rate, remaining for an auction, start one.
 - Otherwise do nothing, leave debt/surplus to accumulate over subsequent blocks.
 
Distribute Surplus Stable Asset According to the Savings Rate
- If 
SavingsDistributionFrequencyseconds have elapsed since the previous distribution, the savings rate is applied to all accounts that hold stable asset. - Each account that holds stable asset is distributed a ratable portion of the surplus that is apportioned to the savings rate.
 - If distribution occurred, the time of the distribution is recorded.