High leverage means less counterparty risk because the max loss is the capital residing on the exchange which is much less than the position size.

As far as mechanisms there's auto deleveraging and insurance fund.

Professional traders all wish to be on exchanges with high leverage because it means more volume is uninformed flow and therefore there is more alpha on the table. The pie is bigger.

All major offshore exchanges offer 100 to 1 leveraged crypto futures - it is table stakes for the industry. We have a lot of mechanisms plus an insurance fund to protect the system.