@duantianming
Hyperliquid, a decentralized perpetual futures exchange on its Layer-1 blockchain, has minimal trading requirements: users connect an EVM-compatible wallet, bridge USDC as collateral, and trade with up to 50x leverage, various order types, and low fees (0.01% maker, 0.035% taker). No KYC or identity verification is needed, enabling anonymous access.
This lack of screening prioritizes privacy and accessibility, attracting real users seeking low-barrier entry without personal data exposure. However, it may indirectly filter genuine traders via wallet connections and on-chain deposits (e.g., required for testnet access), deterring bots or casual sybils through economic commitment. Overall, it favors decentralization over strict user vetting, potentially increasing adoption but raising regulatory risks.
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