In the dimly lit corridors of the crypto realm, where whispers of greed and shadows of suspicion dance like ghosts in a fog, Hyperliquid’s audacious founder Jeff Yan emerges-brushing off the mud spat at his noble platform with a smirk and a flick of the wrist. Imagine him, cagey as a cat in a room full of rocking chairs, suggesting that perhaps, just perhaps, money isn’t the only thing on his mind-trader interests? Well, they get their fair share, too. Or so he claims. 🕵️♂️
“ADL saved our dear traders millions in that glorious October 10th market chaos.”
He bravely defends the mighty auto-deleveraging (ADL) mechanism-criticized by some as a villain-claiming it saved the day during that fateful October 10th. Not meaning to boast, but those ADL actions? Made users “hundreds of millions,” closing shorts at prices so favorable they’d make a Discount Hunter blush. Meanwhile, the liquidity pool-cheeky as ever-passed on all that potential profit to its beloved users, instead of hoarding it like a dragon guarding gold. 🐉
“Debunking the FUD that Hyperliquid puts protocol revenue before traders,” Jeff declares, whipping out statistics like a magician pulling rabbits out of hats.
On 10/10, ADLs netted users hundreds of millions-more than enough reason to raise a glass or two.
He hints that if more positions had been liquidated, more millions would be merrily floating around. But risk, that tricky fellow, needs restraining. The ADL, he claims, is a “win-win,” reducing their exposure while making sure the platform doesn’t turn into a gambling den.
ADL: Simple as a loaf of bread or a punchline
Yan explains that Hyperliquid’s ADL system is as straightforward as grandma’s recipe-taking into account leveraged positions and unrealized profits, nothing more, nothing less. Some community members dream of fancy, highfalutin algorithms that offset longs and shorts, like a well-choreographed ballet of numbers. But Jeff, wise in his own way, questions whether complexity is worth turning the platform into a math Olympiad. Research continues-because who doesn’t love more equations? 🧮
On-chain transparency: The good, the bad, and the naked truth
On October 13, Jeff takes the stage again-this time, to call out the sneaky secrets of CEXs. Underreporting liquidations? Check. Binance, caught red-handed, admits they only report the tip of the iceberg-sometimes just one liquidation order out of thousands! It’s like claiming to see the Titanic from a rowboat.
He urges the industry to embrace honesty, transparency, and an honest look in the mirror-because in the world of DeFi, what you see is what you get, unlike those black ops operations across town.
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2025-10-19 20:15