Ah, dear audience! Who among you would dare to declare that our beloved decentralized exchanges (DEXs) are but mere shadows, unable to dance in the grand ballroom of trading volumes alongside their centralized counterparts? Enter Hyperliquid, the audacious DEX that has taken the stage, boasting a staggering $1 trillion in trading volume as of the 13th of March! 🎭
But lo! With such grandiosity comes a weighty responsibility. Recent market shenanigans have served as a most alarming wake-up call, testing the very fabric of Hyperliquid’s margining system. Indeed, as the trading activity and open interest swell like a well-fed nobleman, the stakes have never been higher!
Our gallant Hyperliquid team, not one to shy away from a challenge, has plunged into a thorough examination of the situation, seeking to fortify their defenses against future tumult. “Risk management,” they proclaim with a flourish, “is not merely a fashionable phrase for us—it is the very backbone of our enterprise!” And fear not, dear traders, for they toil away in silence, crafting solutions even when the world is not watching. 🛡️
What, you ask, is the outcome of this fervent endeavor? A network upgrade, set to unfurl its wings after the stroke of midnight on March 15, 2025! With a bold twist, a 20% margin ratio requirement shall now govern all margin transfers. Yes, my friends, this applies to any funds departing from cross wallets or isolated margin positions—be it withdrawals, perp-to-spot transfers, or adjustments to isolated margin. 🏦
This noble update aims to ensure that our margin requirements remain as healthy as a well-fed courtier, while also mitigating the systemic impact of large positions that might cause a ruckus upon closing. And fret not, for our users may still trade with the same leverage, up to a dazzling 40x! This alteration merely affects the removal of unrealized PnL on open positions—think of it as a gentle nudge rather than a harsh reprimand.
In conclusion, new cross margin positions shall remain unscathed, and for isolated margin trades, the new rule shall only take effect if the cross margin usage dares to exceed 5x leverage post-opening. So, let us raise our goblets to Hyperliquid, the DEX that dares to dream big! 🍷
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2025-03-15 14:45