X @mert | helius.dev

Crisis Response & Transparency - The company addresses concerns arising from a viral post and assures users of their commitment, emphasizing that user stories are prioritized [1][2] - The company states that all traders were immediately and automatically paid out without issue following a massive liquidation cascade [3] - The company clarifies there were no clawbacks or socialized losses [4] - The company publishes daily proof of reserves, and the exchange has been operating uninterrupted since the event, albeit with some hiccups [4] - The company emphasizes its approachability and commitment to doing the right thing, lacking a PR crisis management team [15] Technical Explanation & System Design - The company explains that a screenshot was taken out of context, clarifying it was a technical explanation of how futures profits and losses work, not a policy decision [3][5] - The company operates as a neutral peer-to-peer exchange, not taking positions for users or providing liquidity [6] - The company details the settlement process where profits are exchanged between longs and shorts, highlighting that winners earn from losers in a zero-sum system [7][8] - The company clarifies that bankrupt users caused a settlement issue, which was resolved by the company settling all accounts before publishing proof of reserves [9][10] - The company designed the system to be robust to liquidation events, isolating risk between longs and shorts, with spot holders unaffected [13]