The collateral is 1.3M mixUSDC, shares in the mixUSDC vault. At a share price of 1.023135 USDC they are worth 1.3M USDC, or $1.3M at USDC’s $1.

A fall of 5.3% in the vault’s share price would take collateralisation from 111.2% to the liquidation line at 105.3%.

153.7K alUSD 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 150.2K mixUSDC from the collateral, plus 375.47 mixUSDC for the line’s 0.25% redemption fee.

Across the 58 line redemptions on the timeline below, the line cleared 383.3K alUSD of this position’s debt and took 378,097.11 mixUSDC of its collateral. Valued in USDC at each redemption’s block, with one alUSD counted as one USDC, that is a net of −958.063 USDC 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 −958.253 USDC of it (942.886 mixUSDC). Each redemption’s own net is in its card’s detail.