ARTH is redeemed, the collateral provided to the redeemer is allocated from loans with the lowest collateral ratio, even if it is above the minimum collateral ratio 110%. 200 ETH collateralized with a debt of 3,200 ARTH and the current price of ETH is 20 $GMU.125% (= 100% * (20 * 200) / 3,200). Let’s imagine this is the lowest CR in the protocol and look at two examples of a partial redemption and a full redemption:1,200 ARTH for 60 ETH and thus repays 1,200 ARTH of your debt, reducing it from 3,200 ARTH to 2,000 ARTH. 60 ETH, worth 1,200 $GMU, is transferred from your loan to the redeemer. Your collateral goes down from 200 ETH to 140 ETH, while your collateral ratio goes up from 125% to 140% (= 100% * (20 * 140) / 2,000).ARTH redeemed for ETH is more than the amount of debt a loan has. In such situations the borrower's loan is completely closed (as it's debt is paid off by the redeemer's ARTH), the equivalent amount of ETH is sent back to the redeemer and the borrower's collateral (ETH) exposure is reduced by the amount redeemed.6,000 ARTH for 300 ETH. Given that the redeemed amount is larger than your debt minus 50 ARTH (set aside as a Liquidation Reserve), your debt of 3,200 ARTH is entirely cleared and your collateral gets reduced by 3,150 $GMU of ETH, leaving you with collateral of 40 ETH (= 200 - 3,200 / 20).(baseRate + 0.5%) * collateral redeemedbaseRate calculated?baseRate state variable, which is dynamically updated. The baseRate increases with each redemption, and decays according to the time passed since the last fee event - i.e. the last redemption or issuance of ARTH.baseRate is decayed based on time passed since the last fee eventbaseRate is incremented by an amount proportional to the fraction of the total ARTH supply that was redeemed(baseRate + 0.5%) * ETHdrawnARTH holder will have to pay a fee which is a percentage of the value being liquidated in MAHA tokens.ARTH holders from redeeming their bonds but rather used to control the speed at which they do so.