Post #4

This week's recap: Improvement to liquidations + Liquidations are now sent as market orders to the book, and the user keeps any remaining collateral after closing the position. If the position reaches 2/3 of maintenance margin without successfully closing via market orders, the liquidator strategy within HLP will still take over the position + Almost all liquidations will see significant savings for the end user under this new system, especially liquidations on assets where the maintenance margin is large Trading + Listed perps for BANANA and TRB + This week's friendtech rebalance was announced previously. Top subjects are announced by EOD UTC Mondays and rebalances occur at ~14:30 UTC Wednesdays. See previous announcement or Docs for details: https://hyperliquid.gitbook.io/hyperliquid-docs/trading/index-perpetual-contracts + TP/SL market orders now have a slippage tolerance of 10% instead of 2.5% based on user feedback - users would prefer their TP/SL market orders to fill regardless of slippage, and if slippage is a concern, there are TP/SL limit orders + LogX (perps DEX aggregator) integrated Hyperliquid and passed $1M in volume routed + Daily retail volume is climbing up 📈 User vault updates + When users withdraw from vaults, positions aren't automatically closed unless there's not enough margin to maintain open positions + Vault leaders can choose to disable deposits on vaults API + As previously announced, IP based rate limits for websockets will come through this week. Rough plan is 30 connections and 1000 subscriptions (across all connections) per IP address. Also at most 10 distinct addresses for which user data is subscribed, per IP address. Let us know if any of these changes significantly affects your workflow + There will be a minor change to websockets going live in the next few days. The raw string message upon connection will be removed, and error messages will be wrapped in a JSON "error" variant as well. This should hopefully not affect anyone's code, but once live you should be able to remove logic around deciding whether messages are JSON + Historical market data is now publicly available Open interest rewards + The 11th week of open interest rewards ended and have been distributed to 975 addresses; addresses that would've received <0.01 USDC were not included. You'll find the transaction on the Portfolio page under Deposits and Withdrawals labeled as "Open interest reward" + Open interest rewards continue for week 12, which ends September 26 at 16:00 UTC. OI rewards are 40% of net trading fees collected