Hello, I have a question about HLP price.
I bought a lot of HLP in July-September 2023. I considered it a good investment because of the exposure on BTC and ETH. Since then, the BTC did about +100% and ETH did about +10%. But now I realize that my HLP is valued less than it was when I deposited. What is the reason for that? I understand that there may be some pool rebalances but this reeks with some bug or scam.
Hey there, HLP is primarily composed of GMBTC and GMETH. As a result, when the value of BTC and ETH decreases, the value of HLP will also drop. Additionally, if traders on HMX make more profits than losses, the price of HLP will mechanically decrease. This is not a bug, and even less a scam. All of this is explained in detail in our documentation here: HMX’s Docs.
Also, kindly note that this forum is not the place for such inquiries. It’s meant for proposing protocol changes and discussing ideas for the HMX protocol. For questions like this, please consider reaching out on our Discord or Telegram next time.
I’m closing this topic for off-topic reasons. This forum is dedicated solely to governance discussions.