Over $602M in liquidations occurred on Hyperliquid in 24 hours amid a short squeeze. Bounce, a leveraged token protocol on Hyperliquid, launched Season 1 competition offering $20k in prizes, allowing users to trade ERC-20 tokens like BTC5L and ZEC5L without margin management or liquidation risk, though volatility decay poses a cost.
A post discusses Bounce, a product that converts leveraged Hyperliquid perp positions into ERC-20 tokens held in wallets, eliminating traditional liquidation risk. While tokens can lose value through rebalancing in volatile markets, Bounce offers an alternative to standard perpetual trading, with an ongoing $20,000 competition featuring weekly leaderboards and prizes.