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?
@happysubstack It’s also quite fun to see how people gather the very latest breaking news in the comments under any market thread.
Even though it’s mostly for manipulation, it’s still possible to come across some really good sources.