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[Gauntlet CEO: Outdated ADL Mechanism Causes $650 Million Loss for Hyperliquid Users] Gauntlet CEO Tarun Chitra pointed out that the commonly used Auto-Deleveraging (ADL) mechanism led to significant losses for Hyperliquid. Chitra stated that during the crypto market crash on October 10, more than $650 million was auto-deleveraged from profitable traders' positions, an amount 28 times the potential bad debt faced by the relevant exchange. This decade-old 'queue algorithm' is currently used by several perpetual contract platforms such as Binance, Hyperliquid, and Lighter, whereas a new ADL algorithm could have prevented such losses.