PANews, February 26 — Lighter announced the successful completion of its first practical test of LLP Strategies during a recent large-margin long liquidation event in the ARC perpetual contract. A trader established a massive long position in ARC, with an open interest totaling 50 million USDC, against approximately 600 counterparties including traders and market makers. The ARC contract belongs to Strategy 7, which is only capable of handling an ADL risk with 75,000 USDC LLP funds. As the ARC price declined, the large long position was forcibly liquidated on the order book for about 2 million USDC, then further ADL’d to LLP, and finally taken over by healthy shorts. Ultimately, the large trader lost about 8.2 million USDC, with LLP losses limited to 75,000 USDC, and the short side profited.
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