# 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