Hyperliquid will set a strict upper limit for the clearing treasury, and JELLY long users will settle refunds at $0.037555

On March 28, Hyperliquid announced that users who hold long positions in JELLY at the time of settlement will be refunded by the foundation at a settlement price of 0.037555. This means that all JELLY traders will settle at a price favorable to them, unless it is a marked address. Hyperliquid is strengthening risk management in various ways, including:

· HLP: The liquidation treasury will have a strict upper limit and only account for a small part of the total value of the HLP account. The frequency of rebalancing will decrease and more complex logic will be adopted around backup liquidation. If the loss from the liquidation treasury exceeds certain thresholds, ADL (Auto-Deleveraging) would be triggered instead of automatically transferring collateral from other parts of the treasury. Please note that ADL is not expected to trigger under normal market activities.

· Open contract cap: The open contract cap will dynamically adjust according to market value.

· Delisting assets: Validators will vote on-chain to delist assets below threshold values.