Hyperliquid Co-founder: Hyperliquid offers fully on-chain, transparent, and verifiable liquidation, while CEX liquidation data is severely underreported

ChainCatcher news, Hyperliquid co-founder Jeff.hl stated on the X platform that all orders, trades, and liquidations on Hyperliquid are executed on-chain, allowing anyone to permissionlessly verify the liquidation process and the system's solvency. This level of transparency and neutrality makes fully on-chain DeFi the ideal form of global financial infrastructure.

He pointed out that some centralized exchanges (CEX) significantly underreport liquidation data. For example, if thousands of liquidations occur within the same second on a certain exchange, only one may be publicly displayed, which could lead to the actual scale of liquidations being underestimated by a hundredfold. Jeff.hl expressed hope that the industry will regard transparency and neutrality as the core features of the new financial system.