According to ChainCatcher, Hyperliquid co-founder Jeff published an article on the X platform refuting recent accusations regarding ADL (Automatic Liquidation), stating that some commentators have drawn incorrect conclusions without understanding the core concepts. He emphasized that the ADL mechanism "does not transfer profits and losses to HLP" and pointed out that its treatment of users and HLP is completely symmetrical, stating that "ADL has absolutely nothing to do with HLP or back-to-back liquidation."
Jeff also denied the claim that "ADL destroyed $653 million in revenue," stating that such statements were based on misunderstandings. He criticized certain authors claiming academic backgrounds for "using complex machine learning terminology to package erroneous assertions," emphasizing that one should understand the subject matter before publishing research or commentary.
