Liquidation
Also called: liquidated, liquidation cascade, getting liquidated
Liquidation is a protocol force-selling your collateral when its value falls below the required ratio, usually with a penalty paid to whoever triggers it. It's automatic and merciless — there's no call, no grace period, and it executes in the same block. Because falling prices trigger sales that push prices lower, liquidations cascade, which is how crypto drawdowns turn violent within minutes.