We are currently engaged in a critical effort to protect the company and its shareholders from what we believe is a fraudulent campaign by the RockawayX Managing Partner and CEO, Viktor Fischer, aimed at exploiting the company and its assets for personal gain. What began as an attempt to extract approximately $200 million from the company, as described in the company’s lawsuit against Mr Fischer and his company RX, has evolved into a broader false attack that has negatively impacted market perception and contributed to a significant discount in the company’s valuation.
1/ Since a lot of people are waking up to see their perps positions closed and wondering what the hell “Auto-Deleveraging” means, here’s a quick and dirty primer.
What is ADL? How does it work? And why does it exist?
Hyperliquid’s fully onchain liquidations cannot be compared with underreported CEX liquidations
Hyperliquid is a blockchain where every order, trade, and liquidation happens onchain. Anyone can permissionlessly verify the chain’s execution, including all liquidations and their fair execution for all users. Furthermore, anyone can verify the solvency of the entire system in real time. Transparency and neutrality are key reasons that fully onchain defi is the ideal infrastructure for global finance.
Some CEXs publicly document that they dramatically underreport user liquidations. For example on Binance, even if there are thousands of liquidation orders in the same second, only one is reported. Because liquidations happen in bursts, this could easily be 100x under-reporting under some conditions. Source below.
Hopefully the industry will see transparency and neutrality as important features of the new financial system, and others will follow.
JAMÁS CONTRATÉIS VUESTRO SEGURO DE COCHE CON @Allianz_es , en este #Hilo os cuento lo que me han hecho estos SINVERGÜENZAS!
Hace unos 5 meses, mientras circulaba por el carril derecho de una rotonda, un coche invade mi carril y colisiona conmigo
Fotos:
gris CONTRARIO
Blanco MIO