$vHYPE is now trading around 0.80 $HYPE. The previously communicated 0.85 backstop appears to have failed, withdrawals remain blocked around the 500k HIP-3 minimum, and users are left without a clear public timeline. I love the Hyperliquid community. Its biggest strength has always been high standards, transparency, and accountability. That is exactly why this situation matters. This is not just about one token trading at a discount. It is about what users should be able to expect from HIP-3 deployers when user deposits are used to maintain a minimum stake requirement. Ventuals must provide a clear public update: - current vault balance - withdrawal queue size - remaining backstop liquidity - exact source of HYPE for any claimed 1:1 withdrawals - and above all: whether the plan is recapitalization or an orderly wind-down The clean path is simple: recapitalize the buffer with real HYPE, or initiate an orderly wind-down. Leaving users stuck in a zombie state with no 1:1 withdrawal, no working backstop, no public plan, and no meaningful communication is not acceptable. Would love to get support from the community here. I think people stuck in vHYPE are not making enough noise, and this is not acceptable behavior from the @ventuals team. @alvinhsia
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