The cryptocurrency whale recently achieved a huge bet at a value of $ 200 million at the hybrid currency temperature, which led to a loss of $ 4 million on the Vauult Hyperleliid Provider (HLP) in the protocol. An analyst said this event may be a necessary test for stress.
Some have suggested that the accident could benefit the original noise code of Hyperleliid in the long run. The last loss of the protocol occurred after a merchant, determined as 0xf3F4, given the first letters of a portfolio address, benefiting from about $ 4.3 million to create ETH 113,000 on the protocol.
When the trader began to withdraw money, they eroded their margin for this position, which led to a $ 1.8 million profit and a loss of $ 4 million in the protocol. A prominent Divie Elyo analyst Argue These stress tests are vibrant to improve the protocol.
In this case, 1 % hit the HLP a very reasonable price to pay the price of the learning learned and discover the clear weaknesses. Hyperleiid is not perfect at this stage in his life cycle. But I expect the primary product to improve continuously, because the team will be charged constantly and speed up the response, the analyst said.
Elle also pointed to the minimum value of the distinctive symbol of noise, citing the flow of revenues and its market share in the field of permanent futures trading despite its underlying risk. according to Devilia The data rate, the noise rate (P/E), 7.06, which Aylo believes is the upper possibility if it maintains its growth path.
While the price of the distinctive symbol of excessive noise decreased at the beginning, it quickly increased to more than 15 % in the past 24 hours, according to what he said Coinmarketcap Data.
BYBIT CEO comments on the excessive fluid incident
In response to the incident, the CEO of the second largest exchange of encrypted currencies by trading, E bybit, Ben Zhou indicated that the high leverage is on central and decentralized central exchanges.
ZHou highlighted the role of the protocol filtering engine in reducing the effect by reducing the leverage, but stressed the need for strong risk management tools.
In response to the liquidation, HyperleliQuid has implemented the limits of tougher influence, reducing the maximum amount of bitcoin leverage and ethereum to 40x and 25x, respectively. The company confirmed its rich record in the rapid response to the challenges, noting the date of HLP operation for a period of two years with the minimum issues.
Even with this current financial lever (BTC to 40x, ETH to 25x) at liquid height, it is still possible to abuse, unless they start entering the CEX level risk management or dropping their influence up to less.
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