High-risk trader James Wynn has publicly condemned Hyperliquid’s referral incentives as ‘terrible,’ warning the decentralized exchange risks losing users to competitors offering superior rewards and privacy features.
Wynn disclosed earning only $34,000 from referrals despite substantial trading volumes, labeling Hyperliquid’s bonus structure uncompetitive. He emphasized this shortfall is driving traders toward platforms with more attractive incentive programs.
Internal policies at Hyperliquid reportedly prevent formal partnerships, restricting the exchange’s ability to leverage influencer marketing or strategic alliances to retain users.
The platform faces emerging competition from a dark pool DEX backed by former Binance CEO Changpeng Zhao (CZ), which promises enhanced privacy features and improved referral rewards. This alternative threatens to draw users away from Hyperliquid’s ecosystem.
Concerns persist regarding market transparency despite HOPE token’s recent 50% price surge. Wynn indicated possible intentions to exit crypto futures trading altogether.