Liquidation tooling is usually owner-centric. Reaper is built from the other side of the trade. It looks for distressed accounts where the liquidation edge still survives stale oracles, slot congestion, and unwind friction.

Reaper scans lending books, enriches each distressed account with oracle-age, mark-drift, keeper-race, and unwind-quality fields, then asks a Claude agent to decide whether the account is merely dangerous or actually worth pursuing.
The emphasis is on whether the edge survives execution friction, not just whether the health factor looks ugly.

SCAN -> PRICE EDGE -> CHECK ORACLE -> MODEL KEEPER RACE -> HUNT

Distressed Flow Console • Liquidation Ticket • At a Glance • Operating Surfaces • How It Works • Example Output • Technical Spec • Risk Controls • Quick Start

At a Glance

• Use case: identify distressed Solana lending accounts that are actually worth chasing
• Primary input: liquidation spread, oracle freshness, keeper-race probability, unwind quality
• Primary failure mode: mistaking visible danger for profitable liquidation edge
• Best for: operators who care about execution-quality edge, not just liquidation proximity

Distressed Flow Console

Liquidation Ticket

Operating Surfaces

• Distressed Flow Console: ranks accounts by edge quality, not just risk level
• Liquidation Ticket: prints the exact setup, guardrails, and action context
• Oracle Drift Check: rejects setups where stale pricing invalidates the apparent edge
• Keeper Race Model: estimates whether the liquidation can still be won after congestion and fees

Why Reaper Exists

Many liquidation boards tell you which positions are unsafe. That is useful, but it is not the same as telling you which positions are actually worth pursuing.

Reaper exists to bridge that gap. A distressed account can look attractive and still be untradeable once stale oracles, slot congestion, priority fees, and unwind friction are all counted honestly.

How It Works

Reaper follows a liquidation-quality loop:

1. scan the monitored books for distressed accounts
2. estimate the gross liquidation spread
3. discount that spread for oracle age, mark drift, keeper competition, and unwind friction
4. rank the remaining accounts by edge that still survives execution
5. emit a ticket only when the opportunity is dangerous and actionable

The goal is not to find every risky account. The goal is to find the ones where the edge is still real.

What A Real Reaper Setup Looks Like

• the liquidation spread is still positive after friction
• oracle age and drift are still inside acceptable bounds
• keeper race probability is strong enough to justify the attempt
• seized collateral still looks exit-able after the liquidation

If those pieces do not line up, the account may be distressed but not worth the chase.

Example Output

REAPER // LIQUIDATION TICKET

market             SOL/USDC
health factor      1.021
net edge           $142
oracle age         32s
keeper race        0.62
unwind quality     0.78

operator note: edge still survives fees and oracle guardrails

Technical Spec

Reaper estimates liquidation opportunity quality with:

Edge = grossLiquidationSpread - slippageCost - priorityFee - keeperFailurePenalty - oraclePenalty

Additional guards:

• reject marginal setups when oracleAgeSeconds > MAX_ORACLE_AGE_SECONDS
• reject when oracleDriftBps > ORACLE_DRIFT_THRESHOLD_BPS
• rank by liquidationEdgeUsd * keeperRaceProbability
• surface unwindQuality so distressed collateral that cannot be exited cleanly is demoted

The repo deliberately distinguishes between:

• a position that is close to liquidation
• a position that is actually worth chasing

Those are not the same.

Risk Controls

• oracle freshness gate: rejects setups where pricing is too stale to trust
• drift threshold: blocks liquidations that look profitable only because the oracle is off
• keeper race filter: downgrades opportunities that are unlikely to be won
• unwind quality check: rejects collateral that still looks too hard to exit after seizure

Reaper is strict because an ugly health factor does not pay you by itself.

Quick Start

git clone https://github.com/ReaperProtocol/Reaper
cd Reaper && bun install
cp .env.example .env
bun run dev

Configuration

ANTHROPIC_API_KEY=sk-ant-...
HELIUS_API_KEY=...
HEALTH_WARN_THRESHOLD=1.15
HEALTH_DANGER_THRESHOLD=1.05
ORACLE_DRIFT_THRESHOLD_BPS=45
MAX_ORACLE_AGE_SECONDS=75
MIN_LIQUIDATION_EDGE_USD=40

Legitimacy Notes

• Planned commit sequence: docs/commit-sequence.md
• Draft engineering issues: docs/issue-drafts.md

Support Docs

• Runbook
• Changelog
• Contributing
• Security

License

MIT

hunt the edge, not just the health factor.