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Notes on flash perps, leverage, liquidations and $LIQ from liq.fun, the #1 flash perps platform.

What is $LIQ? The liquidation coin

$LIQ is the liquidation coin: minted only by liquidations, 100 LIQ per $1, capped at one billion. Half of every house fee is to buy it back and burn it.

What is a flash perp?

A flash perp is a perpetual future at 10,000x leverage that lives for seconds: a 0.01% move against it is a liquidation. Here is how it works.