Hyperliquid $2M USDC Refund After 37-Minute API Outage
Hyperliquid, di decentralized derivatives exchange, refund $1.99 million worth USDC afta 37 minutes API outage wey happen on July 29. Dis outage come about becos traffic surge after record $14.7 billion open interest come up, e make order execution delay from 14:10 to 14:47 UTC, even though on-chain trades still dey go on normal. Hyperliquid confirm say no security breach happen. On-chain data from Hypurrscan show sey most traders get full refund sharp sharp. Accounts wey dem owe pass $10,000 USDC dem carry out $9,999 on-chain, and balance fit still collect after KYC for Discord by August 18. Dis incident show how Hyperliquid dey dey committed to user trust and platform stability. Na now dem be seventh largest derivatives exchange wey dey get $10.6 billion 24-hour open interest. Hyperliquid don keep strong since the $6.26 million JELLY memecoin exploit wey happen last March. Dis quick USDC refund na show say platform dey stable and infrastructure dey scale well even as competition dey increase for derivatives trading.
Neutral
Di quick refund of $1.99M USDC after 37-minute API wahala show say people fit still trust Hyperliquid platform and e dey stable, but e no mean say it go affect USDC or any other token price directly. E show say their system strong and dem fit handle any gbege, wey go make people get long-term confidence for DEX. But for short term, e no go make market move or trading beta. So, market impact remain neutral.