The collateral is 233.5K mixUSDC, shares in the mixUSDC vault. At a share price of 1.0008 USDC they are worth 233.7K USDC, or $233.7K at USDC’s $1.

A fall of 5.3% in the vault’s share price would take collateralisation from 111.1% to the liquidation line at 105.3%.

1.3K alUSDb of the debt is set aside for repayment. Line redemptions clear it, and at this share price clearing all of it takes 1.3K mixUSDC from the collateral, plus 1.34 mixUSDC for the line’s 0.1% redemption fee.

Set-aside grows block by block between readings, and an event card’s before figure is the reading at the previous card’s block, so a card’s set-aside move includes what built up in between.