Since the collateral deposited by the user is kept in a volatile asset – cryptocurrency (ETH, BTC), the collateral Euro value changes with time.
In the case where the loan amount and collateral value ratio drops (collateral Euro value drops), the ICONOMI notification service will send email notifications to the user. Notifications will be sent depending on the crypto market movements:
- 1st notification
is sent at 180% loan to collateral ratio (collateral Euro value drops to 180%),
- 2nd notification
is sent at 160% loan to collateral ratio (collateral Euro value drops to 160%)
- 3rd notification
Note: In case of market volatility, ICONOMI reserves the right to automatically liquidate any loan at any time without prior notification of the user.