- The hyperliquid responds to the concerns of the jelly market with the vote of chain validators and increased transparency.
- Hype open interest shows the recovery when the market regains confidence after the risk management upgrades.
The hyperliquid (hype) acted quickly after a series of suspicious market movements led to the establishment of perpetual jelly contracts.
The move, carried out by the entire validator of the platform, was to protect traders and maintain confidence.
In order to compensate for user losses, the hyper foundation is committed to paying the assigned traders – in particular addresses reported – via on the data on the chain. Hyperliquid confirmed the decision on March 27 through a tweet on X.
Gracy Chen de Bitget through his recent tweet, however, condemned the action by comparing action to the FTX tragedy. She also questioned the decentralization of hyperliquid and management of the safe.
In response to this, hyperliquids has carried out substantial risk management upgrades to improve safety and transparency.
The entirely chain vote is now activated
To avoid future disagreements, Hyperliquid has improved its blockchain to allow a validator fully in a chain voted for the distribution of an asset, as announced on their recent tweet.
Authorization, less, the pages -based mechanism eliminates the coordination of the chain. When a validator stake quorum votes for radiation, the action runs automatically via Hypercore.
To illustrate the upgrade, the 2-5 validators of the Hyper Foundation led a test vote to bring Myro Perps back on March 29.
The validator 1 will continue to abstain until the early adopters of the delegation program finish their stake distribution. This ensures greater equity and decentralized control.
Users should expect validators to the future preview their intention to vote for transparency.
Market reaction and hyperliquid price indicators
After Jelly’s incident, the action of hyperliquid prices has always been down. The price of media threshing has decreased by around 28% since the incident event.
However, the down pressure has started to fade, as shown in the daily graphic since the implementation of the updated risk management system.
If the request zone at around $ 12.20 remains solid, an increased reversal could be on the cards.
Source: tradingView
The open interest of the media outfit arouses renaissance signals after the slow decline during the scandal. Investors are starting to have hope because the hyperliquid improves safety and voting protocols.
According to their recent tweets, other technical improvements will have to improve the transparency of the ecosystem.
Source: Coringlass
