
Yuyue|Mar 26, 2025 13:57
Sure enough, HLP has encountered another incident @ HyperliquidX
There are objective issues with the funding capacity and mechanism of decentralized PERP
If he is just a decentralized perp and cannot benchmark centralized exchanges, then HYPE's "reasonable ceiling valuation" is around 6-8u (should not be higher than @ Gate_io)
Long on JellyJelly, short on Hype exchange, this is a big hunt for Hyperliquid
The fragility of transparent decentralized mm is once again completely exposed
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