Yesterday is a good reminder to stay humble, hungry, and focused on what matters: building a better financial system owned by the people. Hyperliquid is not perfect, but it will continue to iterate and grow through the collective efforts of builders, traders, and supporters.  

Users with JELLY long positions at the time of settlement will be refunded by the Foundation as if their position settled at the closing price of 0.037555. This results in all JELLY traders being settled at a price advantageous to them, except flagged addresses. 

To recap what happened:  
A trader self-traded a 4M USDC JELLY position at 0.0095.  
The price of JELLY then rose more than 4x, with HLP backstop liquidating the 4M position. 
The short position led to a loss in HLP’s account value.