> For the complete documentation index, see [llms.txt](https://opendao.gitbook.io/whitepaper-v4/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://opendao.gitbook.io/whitepaper-v4/open-stablecoins/overview/liquidations.md).

# Liquidations

USDO is always priced at $1 on the various lending markets. If a particular borrower's token and the value of their collateral drops below the collateral thresholds they are at risk of liquidation. Anyone may liquidate an underwater collateral position by repaying the debt and thus seize the collateral that is underwater. These are typically done via bots and there is no need for a separate liquidations UI. However anyone may create a specific UI for it.