Liquidation happens when a borrower’s Health drops below 1 due to the value of their collateral not properly covering their loan/borrowed value.
This happens when the collateral decreases in value or when the borrowed debt increases in value against the collateral.
The collateral vs loan value ratio is shown as Health. In a liquidation, a borrower’s debt is repaid and that value plus a liquidation fee is taken from the available collateral.
To access your wallet's liquidation history, click on the top left tab where the connected address is shown.
Click on your address to access wallet history for transactions and liquidations