Hyperliquid CEO slams market maker deals as “centralizing”
The post Hyperliquid CEO slams market maker deals as “centralizing” appeared on BitcoinEthereumNews.com. Speaking on a podcast hosted by blockchain reporter Colin Wu, Hyperliquid founder Jeff Yan disputed the claim that his decentralized exchange had ever made private arrangements with market makers. Per the CEO, market maker deals create the illusion of a platform’s liquidity, but make it less independent and more “centralized” in the long-term. During the interview, Blockchain news reporter Wu compared Hyperliquid to Binance, the largest crypto exchange in the world by volume, and then asked its co-founder why the decentralized exchange (DEX) had become popular among traders. Yan answered that he never expected Hyperliquid to grow so fast, although he and his team had always believed it could become what they had foreseen. Hyperliquid CEO Jeff Yan speaking in the Colin Wu Podcast. Source: WuBlockchain Podcast. “I definitely didn’t think it would necessarily be this big. It’s easy to do very well just by working harder than other people, having faith, and also having a long-term vision and commitment,” the CEO explained. The US-based crypto KOL credited the project’s growth to persistence, a supportive community, and luck, adding that they only saw success after pushing through several setbacks. “Even now, I think we still have bigger versions of what it can be. A lot of it is hard work from the team, a lot of it is the community rallying behind an important idea at the right time, and I think a lot of it is also just luck.” Yan: Hyperliquid rejected market maker deals In the podcast, Wu asked Yan about rumors that Hyperliquid had partnered with market makers during its early days. The founder confidently denied the rumors, mentioning the project declined what he called “common practice” of attracting liquidity through special investors. “There were no private arrangements, like profit-sharing deals or investments,” Yan stated. “Many decentralized…
The post Hyperliquid CEO slams market maker deals as “centralizing” appeared on BitcoinEthereumNews.com.
Speaking on a podcast hosted by blockchain reporter Colin Wu, Hyperliquid founder Jeff Yan disputed the claim that his decentralized exchange had ever made private arrangements with market makers. Per the CEO, market maker deals create the illusion of a platform’s liquidity, but make it less independent and more “centralized” in the long-term. During the interview, Blockchain news reporter Wu compared Hyperliquid to Binance, the largest crypto exchange in the world by volume, and then asked its co-founder why the decentralized exchange (DEX) had become popular among traders. Yan answered that he never expected Hyperliquid to grow so fast, although he and his team had always believed it could become what they had foreseen. Hyperliquid CEO Jeff Yan speaking in the Colin Wu Podcast. Source: WuBlockchain Podcast. “I definitely didn’t think it would necessarily be this big. It’s easy to do very well just by working harder than other people, having faith, and also having a long-term vision and commitment,” the CEO explained. The US-based crypto KOL credited the project’s growth to persistence, a supportive community, and luck, adding that they only saw success after pushing through several setbacks. “Even now, I think we still have bigger versions of what it can be. A lot of it is hard work from the team, a lot of it is the community rallying behind an important idea at the right time, and I think a lot of it is also just luck.” Yan: Hyperliquid rejected market maker deals In the podcast, Wu asked Yan about rumors that Hyperliquid had partnered with market makers during its early days. The founder confidently denied the rumors, mentioning the project declined what he called “common practice” of attracting liquidity through special investors. “There were no private arrangements, like profit-sharing deals or investments,” Yan stated. “Many decentralized…
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