The collateral is 12.10 mixWETH, shares in the mixWETH vault. At a share price of 1.007408 WETH they are worth 12.19 WETH, or $29.0K at WETH’s $2,380.1319.

A fall of 5.7% in the vault’s share price would take collateralisation from 111.6% to the liquidation line at 105.3%.

0.90 alETH of the debt is set aside for repayment. A line redemption clears it, and so does the holder repaying with vault shares or closing the position. At this share price clearing all of it takes 0.89 mixWETH from the collateral, plus 0.002233 mixWETH for the line’s 0.25% redemption fee.

Across the 43 line redemptions on the timeline below, the line cleared 0.52 alETH of this position’s debt and took 0.519 mixWETH of its collateral. Valued in WETH at each redemption’s block, with one alETH counted as one WETH, that is a net of −0.001 WETH for the holder: the debt cleared less the value of the collateral taken. The line’s 0.25% redemption fee, paid to Alchemix’s fee receiver, is −0.001 WETH of it (0.001 mixWETH). The other −0.0000482 WETH is how the Alchemist charges a position: at the line’s average shares per unit of debt across every redemption since the position’s last event, while the share price moved between them. Each redemption’s own net is in its card’s detail.