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Hyperliquid founder clarifies: the platform's priority to pursue protocol revenue is FUD, and the ADL mechanism allows users to net hundreds of millions of dollars.

2025-10-19 00:55:01

Odaily News Hyperliquid founder Jeff posted that the rumors about the platform "prioritizing protocol revenue" are purely FUD. He pointed out that the automatic reduce position (ADL) event on October 10 actually brought users a net gain of hundreds of millions of dollars; if a backstop liquidation mechanism were adopted, the platform HLP could gain more profit, but the risk would be higher. Jeff emphasized that the ADL mechanism is designed to transfer potential gains to users, reduce system risk, and achieve a "win-win" situation. He added that Hyperliquid's ADL queue logic is similar to that of mainstream centralized exchanges, calculated based on leverage multiples and unrealized PNL. Currently, while researching more complex algorithms, the team believes that "keeping the mechanism simple, robust, and easy to understand" is a better solution.

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