Hyperliquid在果冻果冻模因硬币短挤压中损失了2.3亿美元

短暂的挤压使该平台承担负债为2.3亿美元。

HyperLiquid, a decentralized exchange (DEX), has found itself in financial turmoil following a significant short squeeze on a meme coin, JELLY JELLY. The incident led to HyperLiquid assuming liabilities of around $230 million.

在模因硬币果冻果冻（Jelly Jelly）大量短暂挤压后，Hyproliquid是一种分散的交易所（DEX），在金融动荡中发现了自己。该事件导致超级流动性的负债约为2.3亿美元。

The incident began with large traders, known as whales, manipulating the price of JELLY JELLY, a new Solana-based meme coin, which HyperLiquid listed on December 7. The price surge, driven by these traders, triggered massive losses for HyperLiquid’s liquidity pool (HLP). Notably, the price of JELLY JELLY went up by nearly 500%, a sudden and dramatic increase that caught traders and the exchange off guard.

该事件始于大型商人（称为鲸鱼），操纵了新的基于Solana的Meme Coin Jelly Jelly的价格，这是12月7日列出的Hyperliquid。由这些交易员驱动的价格飙升，造成了Hyperliquid的流动性池（HLP）的巨大损失。值得注意的是，果冻果冻的价格上涨了近500％，突然而急剧上升，使交易者和交换措施措手不及。

In response to the mounting losses, HyperLiquid delisted JELLY JELLY from its platform. This decision came after the platform was forced to absorb a substantial short position that resulted in a $12 million loss. However, this move drew criticism as it came amid a broader market downturn, rendering the exchange a target of speculation and rumors.

为了响应越来越多的损失，超级流利的果冻从其平台上脱颖而出。这项决定是在该平台被迫吸收大量短期职位后提出的，这导致了1200万美元的损失。但是，此举引起了批评，因为这是一个更广泛的市场低迷，这使交易所成为猜测和谣言的目标。

The delisting decision also came amid concerns about the stability of HyperLiquid, especially given the scale of the financial damage it had sustained.

在对超流动性的稳定性的担忧之中，这一挑剔的决定也出现了，特别是考虑到它遭受的财务损失的规模。

The incident unfolded as follows: A whale, holding 124.6 million JELLY JELLY tokens (currently valued at $4.85 million), decided to manipulate the coin’s price by dumping and then buying back the tokens. Initially, the whale sold a large amount of JELLY JELLY, causing the price to crash. This action left HyperLiquid holding a short position, which eventually led to a $12 million loss.

该事件的展开如下：一头鲸鱼，持有1.246亿果冻果冻代币（目前价值485万美元），决定通过倾倒来操纵硬币的价格，然后再回购代币。最初，鲸鱼出售了大量的果冻，导致价格崩溃。这一行动使超流动率保持较短的位置，最终导致了1200万美元的损失。

However, the same whale then bought back the tokens, causing the price to surge sharply. As a result, HyperLiquid faced a setback as traders who had bet on a price drop were forced to buy back JELLY JELLY at higher prices, further propelling the token's ascent. Within a few hours, the token's market capitalization jumped from $10 million to $43 million.

但是，同一条鲸鱼然后回购了代币，导致价格急剧上涨。结果，由于价格下跌的交易者被迫以更高的价格回购果冻果冻，因此越来越多，进一步推动了代币的上升。在几个小时内，令牌的市值从1000万美元跃升至4,300万美元。

The rapid increase in market cap naturally attracted more traders, ultimately worsening HyperLiquid's losses. To worsen matters, Binance and OKX decided to list JELLY JELLY perpetual contracts. These listings contributed to an influx of market liquidity and drove the price up even more rapidly.

市值的迅速增加自然吸引了更多的交易者，最终导致了超流动性的损失。为了使事情恶化，Binance和OKX决定列出果冻果冻永久合同。这些清单导致市场流动性涌入，并更快地推动了价格。

This posed a significant challenge for HyperLiquid, which was struggling to manage its growing losses, rendering the situation more complex and intensifying the controversy surrounding the entire matter.

这对超流动性构成了重大挑战，该挑战正在努力管理其日益增长的损失，使情况更加复杂，并加剧了围绕整个问题的争议。

In essence, HyperLiquid found itself in a no-win situation. Its attempts to liquidate the position and minimize losses were hindered by the actions of the whales and the broader market trends that favored a short squeeze scenario.

从本质上讲，超流动性发现自己处于无胜的局面。鲸鱼的行动以及更广泛的市场趋势促使人们妨碍了它清算该职位并最大程度地减少损失的尝试。

As a result of this incident, HyperLiquid is now facing scrutiny over its handling of the situation and the potential regulatory implications. The handling of JELLY_LLY liabilities by HyperLiquid also drew comparisons to past crypto collapses. Some commentators pointed out that abrupt liquidation mechanics played a role in FTX's downfall, leading to questions about whether HyperLiquid's actions could set a precedent for other exchanges facing similar crises.

由于这一事件，超流动性现在在处理情况和潜在的监管含义方面面临审查。用超流动性处理果冻的责任也使过去的加密货币崩溃了。一些评论员指出，突然清算机制在FTX的倒台中发挥了作用，引发了有关Hypliquid的行动是否可以为面临类似危机的其他交流设定先例。

Moreover, there is ongoing speculation about the extent of Binance's involvement in the situation. According to a report by blockchain researcher ZachXBT, the original whale may have been funded through Binance, which went on to list JELLY_LLY perps after HyperLiquid suffered losses. This raises further concerns about whether major exchanges are indirectly influencing market events to benefit from smaller competitors' struggles.

此外，人们一直在猜测二元介绍了这种情况的程度。根据区块链研究人员Zachxbt的一份报告，原始鲸鱼可能是通过Binance资助的，该鲸鱼在超流动遭受损失后继续列出了Jelly_lly Perps。这引起了人们对主要交易所是否间接影响市场事件以受益于较小竞争对手的挣扎的进一步担忧。

Finally, HLP's 24-hour profit and loss reached 700,000 USDC, showcasing the significant financial strain that HyperLiquid is facing. Despite promising technical improvements and highlighting lessons learned, the exchange is encountering difficulties in recovering from the incident's knock-on effects. It remains unclear what impact this will have on liquidity providers who had engaged with HyperLiquid's platform.

最终，HLP的24小时损益达到了70万美元，展示了超流动性面临的巨大财务压力。尽管有希望的技术改进并突出了经验教训，但这种交流在事件的敲门效果中恢复了困难。目前尚不清楚这将对参与Hyperliquid平台的流动性提供商产生什么影响。