Sure enough, HLP has encountered another incident @ HyperliquidX There are objective issues with the funding capacity and mechanism of decentralized PERP If he is just a decentralized perp and cannot benchmark centralized exchanges, then HYPE's "reasonable ceiling valuation" is around 6-8u (should not be higher than @ Gate_io) Long on JellyJelly, short on Hype exchange, this is a big hunt for Hyperliquid The fragility of transparent decentralized mm is once again completely exposed