Post #24368

Hyperliquid Response to XPL Price Surge: No technical issues or defaults have occurred on the platform, and users are advised to be mindful of the risks on their own. The Hyperliquid team announced on their Discord channel that today the XPL market experienced significant volatility, with the token price surging approximately 2.5x in a matter of minutes. During this period, the Hyperliquid blockchain operated as intended without any technical issues: it first executed liquidations according to the order book, then triggered the Automatic Deleveraging (ADL) mechanism as per the public protocol. Hyperp employs a fully isolated margin system, where all user gains and losses are isolated from other asset positions. This liquidation and ADL event only impacted XPL positions, with no protocol insolvency. 📱@Money📱Twitter