[Bybit Implements New Insurance Fund Mechanism, Single Pair Risk Bearing Capacity Increased by Over 200%] According to reports, Bybit will gradually implement a new insurance fund mechanism to address high volatility markets and reduce unnecessary ADL (auto-deleveraging) triggers. Under the new mechanism, newly launched USDT perpetual contracts will first enter the new coin insurance fund, which is set with an initial size of no less than $8 million to provide stronger risk buffering during the opening phase. After the observation period, contracts will be transferred to a composite insurance fund based on their risk and liquidity characteristics. The composite insurance fund significantly enhances capital utilization efficiency and overall risk control capabilities by sharing insurance funds across multiple pairs and dynamically adjusting pairs and fund sizes. Overall, compared to the original single-pair independent insurance fund structure, the new mechanism increases the average insurance fund loss tolerance for a single pair by over 200%, significantly reducing the frequency of ADL triggers during extreme market conditions and providing users with a more stable and predictable trading environment.