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@0xYowie @Henrik_on_HL liquidations are liquidations .
nobody spoke about that
we are speaking about -55% candle that only happened in hyperliquid -55 percent in one minute my man
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@0xGOSPEL @Henrik_on_HL "same outcomes so exchange fault"
by that logic every liquidation ever is the exchanges fault lol
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@0xYowie @Henrik_on_HL both are the same outcomes the exchang fault isn’t it
one got resolved the other didn’t
and if it’s an internal order book that wiped 90% of one side in a trade in a 1 minute wick that happened in one exchange then recovered immediately you don’t see something wrong here?
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@0xGOSPEL @Henrik_on_HL ok then explain how an external oracle anomaly from a korean pre-market print and an internal order-book cascade on a 2 day old meme perp are the same thing
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@0xYowie @Henrik_on_HL not at all just one got bad publicity so they decided to do refunds the other one sweep it as a normal business day
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@0xGOSPEL @Henrik_on_HL those are completely different cases with different causes
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On July 27 at 23:01 UTC, SKHYNIX mark price dropped from $1,127.9 to $917.25. This print was based on an executed trade which was relayed by multiple independent data providers. The XYZ oracle was live in external pricing and tracking that venue, which serves as the primary Korean pre-market venue. The oracle system worked as intended according to its specification.
While the system performed as designed, users are understandably upset about liquidations that were triggered. Market integrity is among Trade[XYZ]'s core values, and we understand the trust of our users has been, and will continue to be, earned.
With these values in mind, we have decided to cover liquidation losses attributable to this anomaly. Eligibility requirements will be conveyed soon, and distributions are anticipated to be completed in the coming days. This is a one-time discretionary decision and is not a guarantee of similar future action.
Going forward, our pricing systems will be further improved to handle tail events. We are accelerating our review of how prices are formed, including revisiting assumptions on external venues, and taking into consideration the price formation which occurs on our own orderbooks, which carry increasingly meaningful depth and signal in relation to external sources.
We will share further information soon.
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obviously the wick got all over the news very bad pr look so they will refund everyone
but when a wick that only happened in hyperliquid exchange and it liquidated mostly small portfolios they won’t even bother to make a statement about
it’s all a pr stunt
trade.xyz@tradexyz
On July 27 at 23:01 UTC, SKHYNIX mark price dropped from $1,127.9 to $917.25. This print was based on an executed trade which was relayed by multiple independent data providers. The XYZ oracle was live in external pricing and tracking that venue, which serves as the primary Korean pre-market venue. The oracle system worked as intended according to its specification. While the system performed as designed, users are understandably upset about liquidations that were triggered. Market integrity is among Trade[XYZ]'s core values, and we understand the trust of our users has been, and will continue to be, earned. With these values in mind, we have decided to cover liquidation losses attributable to this anomaly. Eligibility requirements will be conveyed soon, and distributions are anticipated to be completed in the coming days. This is a one-time discretionary decision and is not a guarantee of similar future action. Going forward, our pricing systems will be further improved to handle tail events. We are accelerating our review of how prices are formed, including revisiting assumptions on external venues, and taking into consideration the price formation which occurs on our own orderbooks, which carry increasingly meaningful depth and signal in relation to external sources. We will share further information soon.
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