README
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Liquidator README
Overview
The Liquidator sample application continuously monitors a Coinbase Prime portfolio for crypto assets in hot/trading wallets and places sell orders or converts to USD/fiat.
Sell orders deduct holds based on instrument, so if new assets are added while others are being liquidated, the application continues to create new orders if there are enough assets to sell. Additionally, if for some reason an order continuously fails to execute, there is an ID generated (client_order_id) from the sell attributes that is used to reduce the amount of spam/failing orders sent to Prime. Prime treats the client_order_id as idempotent for open orders and the ID is cached in-process too.
License
The Liquidator sample application is free and open source and released under the Apache License, Version 2.0.
The application and code are only available for demonstration purposes.
Warning
Use of this sample application may cause a negative financial impact
When the application is running, it continuously monitors and converts crypto assets to USD. If the application is accidentally left running or mistakenly pointed at an unintended portfolio, all of the assets in hot/trading wallets will be quickly liquidated.
Sell orders are created with a one hour TWAP with the lowest tolerance (limit price) set at 10% below the current price of the asset price on the Coinbase Exchange.
If the sample application is used to liquidate large positions, there is price action risk that may result in trades executing up to 10% lower than the latest price check.
Building
To build the sample application, ensure that Go 1.19+ is installed and then run:
go build cmd/server/main.go
To build the Docker container, login to the Amazon ECR Public Gallery:
aws ecr-public get-login-password --region us-east-1 | docker login --username AWS --password-stdin public.ecr.aws
Run the docker build:
docker build .
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