Hello @precook , the liquidation threshold is governed by a risk oracle that monotonically increases in value as the asset converges to maturity, in accordance with its decreased risk profile. These changes can be made in up to 50 bps increments, maximally every three days via timelock. The evolution of this algorithm for this specific asset can additionally be observed via that same governance proposal, in the Risk Oracle Parameter Evolution section.
The liquidation thresholds are not expected to decrease over time. For more information, please consult this post.