Hyperliquid provided some key updates after yesterday’s jelly incident, detailing its main take -out dishes and safety upgrades. Although the price of Hype crashed yesterday, it slowly stabilized today.
However, persistent criticisms remain hyperliquidal actions during the crisis. He quickly responded to the non -illegal activities that were threatened but remained comparatively passive in the face of piracy times in February.
The hyperliquid responds to the jelly crisis
The hyperliquid, a popular Dex, recalls a major scandal. Yesterday, Hyperliquid struck off the jelly after a short pressure almost had $ 230 million in losses.
This attracted a wave of community conviction, which feared another FTX style collapse. Today, hyperliquid has published an answer to the situation:
“Yesterday, it is a good reminder to remain humble, hungry and focused on what matters: the construction of a better financial system belonging to people. Users with long jelly positions at the time of payment will be reimbursed by the Foundation.
The hyperliquid also detailed some safety measures that will be necessary to avoid another incident similar to the pressure of the jelly. On the one hand, it implemented more strict tokens crimes and traffic jams of open interest.
More importantly, the platform has provided significant adjustments to its liquidation protocols, putting several guard at the main cause of turmoil.
Until now, it is not clear if hyperliquidal measures can avoid another jelly incident. If nothing else, the hype rebound today reflects the feeling of the restored community.
Less than a week ago, Hype saw a strong bullish dynamic, but yesterday’s events caused a notable accident. However, Altcoin has succeeded in retreating today, avoiding other losses.
The cryptographic community has strongly criticized the way in which the exchange manages the situation. The concern focuses on a simple question: is hyperliquid really a decentralized exchange? The implementation of a token and the seizure of investor funds goes against the central ethics of DEFI.
Zachxbt, the famous Sleuth Crypto, was particularly frustrated by the actions of the company. Months ago, he identified a potential North Korean security violation, which the company denied.
However, the hyperliquide acted quickly to neutralize the jelly trades, proving that it has the capacity of this rapid response type.
“The hyperliquid recently saw illicit flows [and] said he’s decentralized, so he can’t do anything. Now Hyperliquid has made a centralized decision to quickly close the position at an arbitrary price of an entity using the protocol as expected. If something like it could be done for jelly, it should probably have been done for both, “said Zachxbt.
In the end, hyperliquid has time to reflect and update its Jelly incident strategies. The events of yesterday shook the entire cryptographic community, but the disaster was avoided.
Hopefully the platform can act in good faith to protect users’ funds and its decentralized philosophy.
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