I recently saw the founder Jeff of Hyperliquid speaking on social media. The project places integrity and neutrality as top priorities, which is quite noteworthy.

Specifically, they do this—first, no private investors are involved in the fundraising. What does this mean? In simple terms, no one can gain special status through early investments. Second, there are no protocol privileges for market makers; all market participants are on the same starting line. Additionally, they do not charge any protocol fees to any company. These three points together truly break the traditional way projects usually operate.

The key is in token distribution. During the genesis phase, all allocations are reserved for early users, and core contributors do not participate in the distribution. It sounds a bit unconventional, but this precisely demonstrates their commitment to decentralization through tangible actions. The most transparent aspect is that all distribution data can be verified on-chain, leaving no room for behind-the-scenes manipulation.

Whether this approach can truly be implemented remains to be seen in future execution. But at least based on these promises, Hyperliquid indeed aims to stand out in the path of project governance.