SpaceX Pre-IPO Market Flash-Crashes 45% on Hyperliquid

🚀 Hyperliquid's HIP-3 allows independent builders to create markets using its existing architecture, enabling trading of tokenized stocks and pre-markets for companies yet to go public.

📉 The SPACEX-USDH trading pair experienced a dramatic 45% flash crash, dropping from $2,200 to $1,200, resulting in over $1.5 million in liquidations for leveraged long positions.

🔧 Ventuals, the exchange behind the market, attributed the crash to incorrect data from an offchain oracle and is taking steps to prevent future occurrences while considering compensation for affected users.