yesterday was the first ever liquidation on Flex 💦
a Trove backed by yBOLD slipped 0.17% below the max CR of 110%
a liquidator repaid the max allowed amount of debt to bring the Trove back to the configured "safe CR" of 120%, for a ~0.66% fee (~17 USDC)
the looper lost 3.5% of his equity
compare that with a liquidation on eg Morpho, where the position would get fully liquidated, with a fixed liq fee of 2.62%
the looper would have lost 27% of his equity
in this case, getting liquidated on Flex was ~87% less destructive
partial liquidations + dynamic liq fee in action