Very possible it is more like Hyperliquid. According to what I found out about the exchange, it is a decentralized exchange. I guess it is one of those Web3 exchanges.

Web3 was proposed to be decentralized, but all the platforms that are web3 that I have seen before, they are all centralized, including hyperliquid when j tested it.

Only what they offer is that you do not need to register and no KYC but with just your email, you can connect with the verification code sent ro yoo or connect through anyone of those Web3 wallets or Wallet Connect.