The discussion about whether Hyperliquid is decentralized or not is kinda retarded If you frame decentralization as a binary yes/no, then you can argue that almost nothing is truly decentralized. Even Bitcoin gets criticized for mining pool concentration or geolocation. Decentralization isn’t black and white and even the most horizontal systems need or naturally develop vertical points of control over time. That’s exactly why it’s a pillar of the blockchain trilemma. That being said, you can measure decentralization through other core fundamentals, such as: Who captures the value generated by the protocol? How is the supply distributed? Hyperliquid generated 737m$ last 12 months and distributed 736m$ to HYPE holders (@DefiLlama) which makes it the biggest revenue sharing protocol in the world, after giving the largest airdrop in history. I understand this high level of standard triggers and threatens a lot of extractive builders and makes HYPE a target by default. Regardless of your bags you should recognize that the industry would be in a way better shape if more leaders followed. $HYPE has been a net positive for the industry.