liquid_arc
BASE / 8453
liquid_arc :: on-chain research / Base

Liquidations, measured.

liquid_arc is independent research on Base lending markets: who liquidates, what they pay to win, and what it is worth. Every number ships with the command that reproduces it.

LIQUIDATION THRESHOLDS P1 P2 P3 P4 P5 P6 P7 PRICE
3 of 7 positions liquidatable
Illustrative positions, not live data.
259
liquidations decoded from auction bundles
40
days of Base blocks scanned, start to finish
~99%
of the bonus bid away by the auction winner

Happening now

The latest liquidations on Morpho, read from Base by your browser as they land. No server in between.

morpho blue / base / liquidations
connecting
Reading the last few thousand blocks from Base.

Read the bid straight from the bundle.

Report 001 decodes one auction bundle on Base and sets what the winner bid against what the liquidation was worth. Three commands, no tracing.

report-001 / cast
$ cast tx 0x624b1a94...9820f1f input > bundle.hex
$ cast sig "metacall(...)"
0x4317ca01
$ cast decode-calldata "metacall(...)" $(cat bundle.hex)
solverOps[0].bidAmount 0.102821268623367196 ETH
solverOps[1].bidAmount 0.101339482595036326 ETH
bonus, four positions $276.11
winning bid / bonus ~99%

Registry

Published work. Reports can be rerun from any Base endpoint. Field notes say what they need.

001
What a Chainlink SVR auction winner actually pays on Base
Report / Base / Morpho / SVR auctions / Oct 5, 2026
Read the report
002
A gas limit that looked like a liquidity cliff
Field note / Base / Morpho / Oct 5, 2026
Read the note

Liquidation calculator

The price at which a Morpho position gets liquidated, and what the liquidator is paid for doing it. The math runs in your browser.

Uses Morpho Blue's own formula. It ignores interest, which raises the debt a little every block.

Liquidation price
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-
Health factor
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Current loan-to-value
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Liquidator bonus
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Bonus on the full debt
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Ask the chain a question

A / 01

Research

How many, how big, who wins, what does it cost. For any protocol or event on an EVM chain, answered with data and a plain write-up.

A / 02

Monitoring

A watcher on the positions, prices or contract events you care about, with an alert on Telegram when something crosses a line.

A / 03

Fork replays

A real transaction or scenario replayed on a local fork, so you see exactly what would have happened before any money moves.

No number without the command that produced it.

01
Checked against the chain, not against assumptions. A claim that cannot be replayed is not published.
02
Tested on real history first. New code runs against known past events before it is trusted with a new one.
03
Corrections stay on the record. Report 001 exists because an earlier estimate was wrong by a factor of ten.

Who is behind this

liquid_arc is one researcher working under a handle. The subject is on-chain lending on Base: liquidations, the auctions around them, and what they are actually worth.

The name stays private on purpose. It means the work has to stand on what anyone can check, so every report names its transactions and ships the commands to rerun it.

If a number here is wrong, say so. Corrections get published, not buried.

Got a question the chain can answer?

Send the question and the contract or market it is about. You get back what it would take to answer and how long.

Message @liquidation_arc on X