[bitsignal]

I appreciate this insightful article on Hyperliquid. It's important that people are informed about the potential risks associated with this Exchange.

When the Hyperliquid decentralized exchange launched, I was intrigued and decided to test it out. Here’s a summary of my experience:

1. Initial Transaction: I made a test transaction, which unfortunately got stuck in the process.

2. Support Interaction: I contacted customer support regarding the issue. A few hours later, the swap successfully went through.

3. Follow-Up Questions: I had some follow-up questions about the platform’s operations:

- How can it be labeled as an automated decentralized exchange if moderators can interfere with transactions?

- Why is the source code of the DEX kept private?

4. Response from Support: The support team explained that they keep the source code private to maintain a competitive edge.

This experience raised concerns about the true decentralization and automation of the exchange. I am not sure why Coinmarketcap & Coingecko label Hyperliquid as a DEX.