What do you think would be a better approach for crypto traders that are actively trading cryptocurrencies daily?
Not yet. For now, traders can just use DEXes like hyperLiquid to trade. They connect their wallet to it and use.
- But it's still requires forfeiting custody.
- at the mercy of smart contract risks.
The benefit of this approach is the fact that CEX can lock out your funds or blacklist your address but won't be the case with hyperLiquid or any other DEX for that matter.
Hyperliquid is not a decentralized exchange but a centralized exchange. Do not let this web3 to make you think that they are decentralized exchanges but it can be seen as web3 exchange as you can connect to your wallet and send coins to the exchange, but the exchange is completely centralized. The reason some people like the exchange is because it requires no KYC.