Liquidations

Private liquidation (per user)

When a position's equity falls below maintenance on the unlinkable ledger, HyperVeil liquidates that commitment internally and reduces the pool position accordingly, designed to act before Hyperliquid's maintenance threshold on the pool. HyperVeil is built so your liquidation level is never published against your wallet.

Hyperliquid rules (pool level)

Hyperliquid liquidates accounts, so its rules apply to the pool account, not to individual HyperVeil users:

• Book liquidation when account equity is below maintenance. Positions above 100k USDC notional are sent 20% first, then full size after a 30-second cooldown.
• Backstop when equity falls below ⅔ of maintenance, after the book attempt.
• Auto-deleveraging when an account's equity, or an isolated position's value, becomes negative: profitable opposite accounts are closed at the previous mark. If the pool is ADL'd, the ledger allocates the reduction across affected users.

Internal liquidation runs first precisely so pool-level liquidation is not reached.