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Results for Spotlight, Perp DEX

2 stories, newest first

Dec 10, 2025 — Binance, HyperLiquid

Gauntlet’s Tarun Chitra claims “greedy” ADL led to excess Hyperliquid losses, and describes a new “risk-aware pro-rata” ADL algorithm.

Aster and Hyperliquid are locked in a duel for perp DEX dominance. Can the former lure traders faster than the latter loses them?