# Hyperliquid liquidation — X 热门讨论 (2026-09-19 01:55 UTC)
## @Dmyonhl (DMY.) · 09-18 15:39 · ♥26 ↻11 💬13 Wait. you can 5x long HYPE without a liquidation price?
yeah.
I had to look twice too. 😭
@BounceTech takes a Hyperliquid perp, wraps the exposure into an ERC-20, and keeps rebalancing it around the leverage you picked.
So you’re not sitting there babysitting a liquidation price while the position moves.
And the numbers get stupid when the trend runs.
Jan 21
5x perp → +807% 5x leveraged token → +4,048%
Same starting leverage.
Completely different ride.
Obviously, the reverse is also true. Chop is where leveraged tokens can get ugly.
But that’s precisely why this is worth testing.
$20k competition is live.
Let’s see who actually has hands. 🐊
https://t.co/CeWKbMZ67T > 引用 @BounceTech: Season 1 Trading Competition: $20k Prize Pool https://x.com/Dmyonhl/status/2100972913520247096