Hi, Liquidations are actually an integral part of the system. When the colateral posted as a bond for the BTC drops, measured in the price ratio of ETH/BTC, a deposit is eventually liquidated. That affects the bonds, but not the TBTC circulating. So the Node Operators take that risk on them to avoid a risk on the system.
You could compare this to MakerDAO, where Vaults are liquidated every so often. Those liquidations actually protect the DAI peg and they are an integral part of the system. Very similar in concept, different mechanism.
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