Hyperliquid responds to community criticism by emphasizing that the "transparent order book" design is controversial but forward-looking

Hyperliquid co-creator Jeff responded to community criticism in a post, emphasizing that the "transparent order book" design is controversial but forward-looking. He proposed four principles of market structure: opposing the misunderstanding of privacy as an execution advantage, emphasizing the central role of competition in improving the quality of transactions, pointing out that repeated games are conducive to optimizing behavior, and system-level transparency can achieve information symmetry. Jeff believes that Hyperliquid has improved transaction quality with the help of L4 transparent order books and de-prioritization mechanisms, and can effectively filter "toxic traffic", challenging traditional OTC and dark pool logic.