# Hyperliquid liquidation — X 热门讨论 (2026-09-16 08:59 UTC)
## @BrianInCrypto (Brian) · 09-15 23:57 · ♥25 ↻0 💬6 …. What?
propAMMs for spot make sense cuz the assets swap/settle atomically
a bilateral perp propAMM would mean you’d have to take counterparty risk.
Exchanges like Hyperliquid are the risk, liquidation and settlement layer.
Hate to break it to you, but if you’re just streaming prices on a CLOB perp dex, you’re a market maker not some new invention. > 引用 @ImperialAttila: Solana needs a perps PropAMM https://x.com/BrianInCrypto/status/2100011135848132839