Hyperliquid Drama: The Oracle Incident
Analysis of the controversial Hyperliquid exploit and their response.
there's little bit drama with HL which is considered one of the main promising dex'es currently
a trader opens a massive $8m short on Hyperliquid, then pumps the price and forces HLP to liquidate/absorb his position (with little cost to him as he removes most of his margin)
to fix it, HL force adjusts the oracle price to a fraction of the assets real price. good because it stops the "exploit", bad because it's not a very decentralized thing to do.
best writeup i saw can be found here: https://x.com/0xAbhiP/status/1904937963936768067
my thoughts: hl good asset, if you get a cheap enough entry then its defo worth buying
if bull market continues, hl continues doing a ton of dex volume so it's a good horse to bet on
i think they ultimately did the right thing in this situation (even if it's controversial, kinda like eth rollback back in the day)