Hyperliquid founder publicly criticizes a certain exchange for inflating liquidation volumes

Jinse Finance reported that Hyperliquid co-founder Jeff stated that Hyperliquid is a blockchain where all orders, trades, and liquidations are conducted on-chain. Anyone can permissionlessly verify the execution of the chain, including all liquidations and their fair execution for all users. In addition, anyone can verify the solvency of the entire system in real time. Transparency and neutrality are key reasons why fully on-chain DeFi can become the ideal infrastructure for global finance. Some centralized exchanges have publicly stated that they severely underreport user liquidations. For example, on one exchange, even if there are thousands of liquidation orders within the same second, only one is reported. Since liquidations are sudden events, in some cases, the underreporting can easily reach 100 times. It is hoped that the industry will regard transparency and neutrality as important features of the new financial system and that other industries will follow suit.