Hyper Foundation addresses Hyperliquid validator unease

The Hyper Foundation allayed concerns about the project’s practices by denying claims that validator seats on Hyperliquid’s high-performance layer 1 blockchain were for sale.

In a packed X post, the Hyper Foundation, an organization dedicated to growing Hyperliquid’s ecosystem, debunked claims about 16 blockchain validators.

Most of the allegations claimed that organizations had purchased the project. Hyperliquid (HYPE) launched in November 2024 as a decentralized perpetual futures exchange on its own layer-1 network.

Responding to the allegations, Hyper Foundation emphasized that the selection of validators is based on a merit-based process. The organization also stated that as the ecosystem expands, the number of validators will naturally increase.

There is no way to buy a seat at the table, and claims to the contrary undermine the efforts of validators who have put in the time and effort to understand the system.

Hyper Basic

Hyperliquid defends closed-source code

Concerns have also been raised regarding Hyperliquid’s closed source code and single binary infrastructure. Responding to these criticisms, the Hyper Foundation acknowledged the advantages of open sourcing but defended its approach by citing the scale and speed of its development. The foundation compared its model to established blockchains that use single-client architecture, such as Solana.

Yes, node code is currently closed source. Open source is important. Projects become open source once development reaches a stable state. Hyperliquid ships much faster than most projects. The scope is much larger than most projects. Once secure, the code will be open source.

Hyperliquid debuted with a massive token airdrop last November. The responsible DEX airdropped 310 million tokens, accounting for 31% of the total HYPE supply, to initial participants. The project also launched HYPE staking, locking up $8.4 billion worth of cryptocurrency to secure the L1 chain and bootstrap developer activity.

Hyperliquid is constantly innovating and evolving to serve its mission of bringing all finance on-chain. The community has played a crucial role in the growth of the ecosystem and feedback is taken seriously.

Some misconceptions about validators have emerged recently.…

— Hyperliquid (@HyperliquidX) January 8, 2025