Hyperlevrizid announces major risk management updates after the Jelly Market accident

Hyperliquid has announced a series of improvements to risk management after a major incident that includes Vauult Hyperlique Supervider (HLP).

As part of its response, the Hyperleiid Foundation will recover users who have held long -standing positions, using a closing price of $ 0.037555. This step is expected to make sure that all gel merchants, with the exception of those who have signs, receive a useful settlement price for them.

The decision follows the removal of the permanent contracts of Jelly after auditors have identified the suspicious market activity.

What happened?

Incident Stem From a merchant who claims to manipulate the price of the gel, which led to great inconsistent losses to the HLP, which is the cellar of making the market inside the excessive liquid.

The trader, who occupied $ 4.85 million, has merged a short position on liquid adultery with topical purchases on the series, which led to the shortening of the short position of the center to HLP. Since the trader bought the jelly strongly from the decentralized stock exchanges, its price has increased, which temporarily caused the unreasonable HLP losses to $ 13.5 million.

With liquidity on decentralized exchanges relatively low, the price movement was more clear. In response, the excessive force was stopped in the gel market and stability at $ 0.0095, which is much lower than $ 0.50 that the stock market was informed.

This decision sparked discussions within the encryption community, with some experts interrogation Its legitimacy.

Meanwhile, Bitget Grace Chen CEO criticized HyperleIID with Jelly Heliste and warned that he might follow the FTX path. EXC argued that the decision, made by a small group of auditors, raised concerns about decentralization.

It also highlighted structural defects, such as the risks of mixed cellar and a lack of transparency. Arthur Hayes, co -founder of her fears of her fears, who also interrogated the decentralized decentralization claims.

Risk management updates in liquid rise

In the light of these events, HyperLiIID Declare Many major changes in risk management systems.

First, the liquidated course within the HLP will have a tougher border, which means that it will retain a smaller part than the total HLP account value. It will also be re -balanced less often, and a more advanced system will be used to deal with the liquidation.

Second, the automatic disposal process (ADL) will not be activated unless VAULT LIQUIDTOR losses exceed a certain limit. This will help prevent money transfer automatically from another cellar to cover the losses.

Third, the platform will modify open interest covers (OI) more dynamic based on the market size to better ensure current conditions. Finally, the voting system on the chain will allow the fateful to determine whether the assets that are less than certain thresholds will be removed.

“Yesterday is a good reminder of the survival, humble and hungry and focused on what matters: building a better financial system owned by people. The hyperborn is not perfect, but it will continue to repeat and grow through the collective efforts of builders, merchants and supporters.”