Hyperliquild is on the rise, but CZ reminds whales not to play 👇 one ️⃣ Why is Hyperliquild "fully transparent" sometimes a bad thing? Big payment exposed=being snatched away by someone If you want to buy $1 billion worth of tokens all at once, but let everyone see in advance, others may buy them first and wait for you to carry the sedan chair before pouring them in, resulting in you not being able to buy at a good price and increasing costs. Perpetual contracts are more dangerous: Strong level exposure The forced liquidation price of a contract position is equivalent to telling others that 'as long as the price reaches X, I will sell out'. The banker or giant whale can work together to "smash the plate" or "pull the plate" to trigger your strong flat and directly clear you out. Everyone has also seen how James was done these days. two ️⃣ How is traditional finance solved? ——Dark Pool Wall Street's large funds usually trade in "dark pools". The daily average trading volume of dark pools is often 10 times that of public order books. Benefits: Others don't know who you are, how much you want to buy, or where you went to buy it; After the transaction is completed, the results will be summarized and published to avoid being pre traded or maliciously squeezed. Note: What is the dark pool? In fact, similar to private VIP rooms, bulk buyers/sellers secretly make transactions inside, while individual customers outside have no idea what transactions are happening. three ️⃣ Entrepreneurial opportunities Create a platform that combines on chain dark pools and perpetual contracts: -Unable to see the order book or delayed display; -It is best to temporarily hide the action of depositing funds into smart contracts; Privacy and security can be balanced through encryption techniques such as zero knowledge proofs. comment: CZ's statement is not unreasonable. Judging price trends based on heat maps is an important reference indicator for trading. The market maker pushes the price towards the target clearing line, and once triggered to be forced to level, the system will forcibly sell or buy these leveraged positions at market price, instantly releasing a large number of passive trades without bargaining power This "waterfall" effect not only allows them to receive low-priced (or high priced) chips at a relatively low cost, but also continues to accelerate the market in the same direction, triggering more chain explosions Ultimately, limited funds are used to leverage greater price fluctuations and significantly amplify profits, while publicly available clearing position information allows them to accurately target their targets This is also a limitation of Hyperliquild. Just now, James announced the suspension of contract trading. However, in any case, Hyperliquild is currently the best place for on chain transactions, and its depth cannot be compared to other single on chain PerPs. The combination of CEX Depth and DeFi is unique in the market. Only often there is a high premium.