> For the complete documentation index, see [llms.txt](https://vaultbook.gauntlet.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://vaultbook.gauntlet.xyz/fr/ressources/frequently-asked-questions/25-move-in-btc-or-eth.md).

# Mouvement de 25 % du BTC ou de l’ETH

Pour les marchés BTC et ETH attribués aux vaults Gauntlet, les positions d’emprunt sont surcollatéralisées avec un Liquidation Loan To Value (LLTV) de 86 %. Si les positions d’emprunt deviennent risquées lors d’une volatilité extrême, elles sont généralement liquidées par des participants externes appelés liquidateurs. [En savoir plus sur les liquidateurs et les liquidations ici](https://vaultbook.gauntlet.xyz/vaults/morpho-vaults/vault-curation-considerations-a-deeper-dive/liquidations-and-liquidators).

Les paramètres LLTV préservent une marge de collatéral d’environ 10 % pour absorber le slippage et la volatilité du marché. Notre moteur d’allocation des vaults simule en continu les résultats de liquidation dans différents environnements de prix et de liquidité, et réduit dynamiquement l’exposition lorsque les conditions de drawdown dépassent des seuils de tolérance au risque prédéfinis.


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