> For the complete documentation index, see [llms.txt](https://docs.libre.org/libre-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.libre.org/libre-docs/understanding-the-platform/mechanics.md).

# Mechanics

How liquidation, pricing and pool share value actually work under the hood.

The rules a loan actually runs on.

* [**Liquidation Process**](/libre-docs/understanding-the-platform/mechanics/liquidation.md) — what happens when a loan's LTV crosses 80%, the 72-hour timer, and why clearing it means getting below 70% rather than 80%.
* [**Price Oracle**](/libre-docs/understanding-the-platform/mechanics/price-oracle.md) — where the BTC price comes from: several independent feeders, an averaged round that only publishes when they agree, and a five-minute freshness rule the loan contract enforces.
* [**Tokenomics & Share Value**](/libre-docs/understanding-the-platform/mechanics/tokenomics.md) — how a TPF share gains value, and how pool assets are accounted.