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JellyJelly experienced a short squeeze, surging 429% in just one hour (SGT: 21:00-22:00). Subsequently, Hyperliquid Vault took over a trader's self-destructed short position, at one point facing a floating loss exceeding $12 million.
This article discusses the popularity and application of the points system in the web3 market, as well as the reasons for and advantages of introducing the points system.