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Being on a blockchain and being decentralized are two different things. The HyperCore client isn't even open source.

• gametorch 11mo ago
  That's just patently false. > Importantly, HyperCore does not rely on the crutch of off-chain order books. A core design principle is full decentralization with one consistent order of transactions achieved through HyperBFT consensus.
  • Saline9515 11mo ago
    The basis of decentralized software is open-source. Otherwise a centralized authority can just push an update to, for instance, blacklist addresses. https://github.com/hyperliquid-dex/node https://github.com/hyperliquid-dex/node "For lowest latency, run the node in Tokyo, Japan." Decentralization means to run all of the closed-source nodes in the same AWS datacenter!
    • monokh 11mo ago
      And in fact they did just this when their vaults started bleeding money on an unfavourable position (JellyJelly). They handed out a closed source binary and the validators ran it immediately, closing out the market at an arbitrary price.
    • trhway 11mo ago
      The basis of decentralized software is open protocol. Then it doesn't matter that somebody runs closed source while somebody runs open source.
  • arccy 11mo ago
    as an operator you don't even get the real validator / node binary directly, nor can you control which version to run. all you can do is run their visor, and they push out whatever proprietary blob they produce and restart "your" nodes at their command.