According to @KookCapitalLLC, Hyperliquid’s HLP liquidation process is more transparent than other venues, citing Jeff’s statement that HLP is a 'non-toxic liquidator' that does not select only profitable liquidations and serves as 'a public good for maintaining system solvency' (source: @KookCapitalLLC on X, Oct 11, 2025; source: @chameleon_jeff on X). The post frames Hyperliquid’s approach as non-selective and solvency-first, a detail relevant for perps traders and HLP depositors assessing venue risk and liquidation mechanics (source: @chameleon_jeff on X; source: @KookCapitalLLC on X). The author also expresses a personal view that HLP depositors may receive an airdrop in an upcoming season, which is opinion and not confirmed information (source: @KookCapitalLLC on X).