The HyperLiquid team has presented plans to increase the decentralization of the project
Date: 2025-01-09 Author: Henry Casey Categories: BUSINESS
The HyperLiquid team, which operates a decentralized perpetual futures exchange, has announced measures to increase the level of decentralization of the project. In the published statement, they emphasized the intention to open the source code of nodes as soon as it is safe for the system. At the same time, it was clarified that the status of a validator cannot be purchased - all participants undergo thorough verification in the test network.
“Buying the status of a validator is unacceptable. Such statements harm the reputation of those who have made significant efforts to study the system. As the blockchain develops, the number of validators will expand,” said HyperLiquid representatives.
However, the team acknowledged attempts to create a black market for test HYPE tokens issued to test the network. This behavior is condemned, and the developers promised to review the process of selecting participants. In addition, the Foundation Delegation program is planned to be launched, which will support high-performance validators, contributing to further decentralization of the network. Also, any user will be able to deploy an API server on any node.
Concerns about the centralization of the project were first expressed by KamBenbrik, a popular user in the crypto community. He stated that the current structure of validators is closed to new participants and limits competition. Against the backdrop of these accusations, the HYPE token lost 18% of its value in a day, reaching $21.24, which was the lowest mark since mid-December.
In addition, dissatisfaction with the closed source code and centralized API of the platform increased in the community. This was accompanied by a large outflow of deposits in USDC stablecoins, which are used as collateral on the platform. The outflow began after warnings about the possible activity of hackers from the DPRK, conducting operations to find vulnerabilities.
Despite the difficulties, HyperLiquid continues to develop the platform. HYPE's token staking feature was recently launched, which has seen the asset rise in price by 66% since its launch in November.
