币圈老司机
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Hyperliquid has proven that there are no decentralized exchanges, on-chain exchanges; everything can be manually intervened, everything is manipulated by humans.
The decentralized narrative of Hyperliquid has collapsed, it's time to prepare for short positions.
First, let’s review tonight's short position.
Tonight, a giant whale opened a jelly hedge position on Hyperliquid.
Due to the deliberate manipulation of coin prices, after the short position was liquidated, the long position could take advantage of Hyperliquid's risk fund.
Generally speaking, most exchanges acknowledge losses when they discover a bug, take it down, and fix the bug.
However, this bug was encountered by Hyperliquid two weeks ago, and it hasn't been fixed; they could only forcibly liquidate the brother's position.
Liquidation would be one thing, at least they would acknowledge the loss and compensate, but Hyperliquid didn't compensate a single penny, forcibly liquidating at a higher price.
For example: you opened BTC with 10,000 dollars and it rose to 100,000 dollars.
The exchange says you earned too much, I’ll settle with you at 15,000 dollars, you still made a profit.
Is this even a profitable situation? This is the difference between financial freedom and just making a little money.
If it were me, I would have cursed them out long ago, what garbage???
If an on-chain exchange can be manually intervened at any time and can delist and freeze your account at will, what’s the difference from centralized exchanges??
I used to think Hyperliquid’s on-chain exchange was amazing, but now it seems like just a paper tiger.
The most basic narrative of centralization has just been cut off.
Hyperliquid doesn't know if it will fix this bug; it has already suffered losses last time, and it’s still losing this time.
But it’s also possible that they are at their wits' end.
However, the notion of decentralized exchanges is indeed dead in my heart.
There are no decentralized exchanges; it's all human intervention, just a change of shell.
The decentralized narrative of Hyperliquid has collapsed, it's time to prepare for short positions.
First, let’s review tonight's short position.
Tonight, a giant whale opened a jelly hedge position on Hyperliquid.
Due to the deliberate manipulation of coin prices, after the short position was liquidated, the long position could take advantage of Hyperliquid's risk fund.
Generally speaking, most exchanges acknowledge losses when they discover a bug, take it down, and fix the bug.
However, this bug was encountered by Hyperliquid two weeks ago, and it hasn't been fixed; they could only forcibly liquidate the brother's position.
Liquidation would be one thing, at least they would acknowledge the loss and compensate, but Hyperliquid didn't compensate a single penny, forcibly liquidating at a higher price.
For example: you opened BTC with 10,000 dollars and it rose to 100,000 dollars.
The exchange says you earned too much, I’ll settle with you at 15,000 dollars, you still made a profit.
Is this even a profitable situation? This is the difference between financial freedom and just making a little money.
If it were me, I would have cursed them out long ago, what garbage???
If an on-chain exchange can be manually intervened at any time and can delist and freeze your account at will, what’s the difference from centralized exchanges??
I used to think Hyperliquid’s on-chain exchange was amazing, but now it seems like just a paper tiger.
The most basic narrative of centralization has just been cut off.
Hyperliquid doesn't know if it will fix this bug; it has already suffered losses last time, and it’s still losing this time.
But it’s also possible that they are at their wits' end.
However, the notion of decentralized exchanges is indeed dead in my heart.
There are no decentralized exchanges; it's all human intervention, just a change of shell.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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