HyperliquidNews said it detected a 1 million USDC deposit made 10 days ago by @tradexyz into an on-chain backstop liquidator. The stated purpose was to help reduce auto-deleveraging, or ADL, during periods of elevated market volatility. The liquidator is enabled only for cross-margin assets. According to the monitoring update, it has processed $4.15 million in liquidations so far and generated $28,281 in profit. The disclosure points to a risk-management tool being funded on-chain rather than a broader protocol change, and the figures cited were limited to the liquidator’s usage, scope, and profitability as tracked by HyperliquidNews.
Odaily reported that HyperliquidNews detected a 1 million USDC deposit made 10 days ago by @tradexyz into an on-chain backstop liquidator to help reduce auto-deleveraging during periods of high market volatility.
The liquidator is enabled only for cross-margin assets. So far, it has processed $4.15 million in liquidations and generated $28,281 in profit, according to the monitoring update.
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