The Hyper Foundation has denied accusations suggesting that validator positions on their high-speed, first-layer blockchain platform, Hyperliquid, could be purchased. This statement aims to clear up any doubts regarding the methods used by the project.
In a crowded social media post by the Hyper Foundation, an organization focused on expanding the community of Hyperliquid, they clarified and disproved rumors about their 16 blockchain validators.
The majority of accusations point towards various entities securing positions within the project by purchasing them rather than earning them legitimately. Launching in November 2024, Hyperliquid (HYPE) emerged as a decentralized perpetual futures exchange that operates independently on its own layer-1 network.
In response to the accusations, the Hyper Foundation highlighted that the choice of validators followed a performance-based approach. Additionally, they pointed out that the pool of validators would increase organically as the system grows larger.
In simpler terms, asserting that you can purchase a place at the decision-making “table” contradicts the hard work and dedication put forth by those who have taken the time to learn and comprehend the system’s intricacies.
Hyper Foundation
Hyperliquid defends closed-sourced code
Questions were raised about Hyperliquid’s closed source code and its reliance on a single-binary infrastructure. In response to these concerns, the Hyper Foundation acknowledged the benefits of open sourcing but justified their approach by highlighting the efficiency and pace of their development process. They drew comparisons with well-established blockchains like Solana, which also operate using a single-client architecture.
As a researcher, I confirm that the current version of our node code is closed-source. However, I strongly believe in the importance of open sourcing once the project has reached a stable development stage. It’s noteworthy that Hyperliquid outperforms most projects in terms of speed by orders of magnitude. Moreover, the scope of our project is significantly larger than what you find in most comparable projects. With regards to open sourcing, I assure you that we will do so as soon as it becomes secure to do so, ensuring the protection and integrity of our work.
Back in November, Hyperliquid made a grand entrance by distributing a substantial amount of tokens through an airdrop. The decentralized exchange for perpetual contracts distributed 310 million tokens, accounting for 31% of the total HYPE supply, to early adopters. Additionally, the project introduced HYPE staking, which locked up approximately $8.4 billion in cryptocurrency to ensure the security of the L1 chain and stimulate developer activity.
Hyperliquid is persistently evolving and enhancing, with the ultimate goal of moving all financial transactions onto the blockchain. The community significantly contributes to the development of our ecosystem, and their input is highly valued.
Lately, there seems to be some confusion surrounding the role of validators in our system. To clarify…
— Hyperliquid (@HyperliquidX) January 8, 2025
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2025-01-08 18:40