# Сопутствующие статьи по теме DEX

Новостной центр HTX предлагает последние статьи и углубленный анализ по "DEX", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Hyperliquid to Launch Portfolio Margin: A Game-Changer or a Double-Edged Sword?

Hyperliquid, a leading Perp DEX, is introducing portfolio margin on its testnet, a significant upgrade aimed at professional and institutional traders. This system unifies users' spot and perpetual accounts, calculating margin requirements based on net risk exposure rather than summing individual positions. It rewards hedging strategies by freeing up capital, potentially improving efficiency by over 30%, as seen in traditional finance. This move signals Hyperliquid's strategic shift towards courting capital-efficient institutional players, offering benefits like a unified account for seamless trading, automatic yield on idle assets, and a theoretical 3.35x increase in leverage. It aims to support complex strategies like delta-neutral trading and arbitrage, potentially improving liquidity and tightening spreads. However, the system amplifies risks inherent in DeFi's lender-of-last-resort absence. Higher efficiency means losses and liquidations can accelerate more quickly. In extreme market conditions, correlated crashes could cause hedges to fail simultaneously, rapidly expanding risk exposure. Furthermore, the liquidation of a large, leveraged unified account could trigger a multi-asset fire sale, potentially creating a cascading liquidation spiral across connected markets and even impacting integrated lending protocols within Hyperliquid's HyperEVM ecosystem. This innovation is a high-stakes gamble on attracting institutions and a severe test for DeFi's resilience.

marsbit12/16 13:20

Hyperliquid to Launch Portfolio Margin: A Game-Changer or a Double-Edged Sword?

marsbit12/16 13:20

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