Ventuals Faces HYPE Withdrawal Rush Amid Market Concerns

On March 16, Ventuals, a trading platform based on HIP-3, experienced a withdrawal rush of its HYPE tokens. According to BlockBeats, the platform's vHYPE liquidity staking token briefly dropped to $9 before recovering to $31, while HYPE is currently priced at $37.5, with vHYPE still trading at an approximate 18% discount. Hyperliquid HIP-3 allows anyone to deploy their own perpetual contract sub-DEX, requiring a minimum stake of 500,000 HYPE. Ventuals, after absorbing user HYPE, issues the vHYPE liquidity staking token. However, its treasury is nearing the minimum staking threshold, leading to panic redemptions by users. Ventuals CEO Alvin Hsia stated that this situation is not a bug but a result of the platform's design rules. Withdrawals will be paused when nearing the treasury threshold to prevent disruption to traders in the Ventuals market. The platform is collaborating with private LPs to increase HYPE holdings. Ventuals and its partners will offer exchanges through major secondary liquidity pools at a vHYPE to HYPE ratio of 0.85:1 as a final discount baseline, ensuring users can exit with a maximum 15% discount if immediate liquidity is needed.