- IOTA founder Dominic Schiener says crypto innovators “have to work collectively to deliver extra customers on-chain.”
- Scheiner was responding to latest reviews questioning HyperLiquid’s transparency and integrity, alleging a scarcity of collateral.
IOTA founder Dominic Schiener has warned that the cryptocurrency ecosystem should be taught to collaborate and prioritize shared progress somewhat than competing for dominance.
In response to the continued scandal during which main decentralized buying and selling protocol HyperLiquid has been accused of missing monetary well being, Scheiner identified that the actual enemy is legacy methods.
The IOTA founder posted on
Should not we be working collectively to deliver extra customers on-chain as an alternative of preventing one another? Should not we be working collectively in opposition to centralized exchanges?
This hostility is not going to enable us to go any additional in attaining our objectives and making cryptocurrencies higher.
— Dominic Schiener (@DomSchiener) December 23, 2025
His sentiments have been echoed by many, together with one crypto advisor who commented, “If half the vitality spent on poisonous competitors between DEXs may very well be spent on buying new CEX customers, the world would transfer sooner towards a decentralized future.”
IOTA founder intervenes as DEX warfare intensifies
Scheiner was responding to Vladimir Novakovsky, founding father of Leiter, the ZK Rollup perpetual futures buying and selling platform constructed on Ethereum, and one in every of HyperLiquid’s rising rivals. Mr. Nowakowski poked holes in HyperLiquid’s detailed clarification of X concerning its monetary well being.
HyperLiquid has dismissed broadly shared claims of chapter, saying each greenback is accounted for.
“Hyperliquid is extra clear and decentralized than all different main felony buying and selling venues. Your entire state is maintained independently by a set of permissionless validators and verified by BFT proof-of-stake consensus by every node,” it added.
One of many major claims was that the Hyperliquid community was undersecured by $326 million. Nevertheless, the community says the accuser didn’t embrace HyperEVM USDC within the calculations.
Different claims included claims that some customers take pleasure in particular privileges corresponding to charge waivers, that some directors can transfer customers’ funds with out signatures, and that the chain may very well be frozen. HyperLiquid dismissed all these allegations as unfounded.
However not everybody was satisfied, and Nowakowski attacked HyperLiquid in opposition to X, saying:
Within the FUD cycle, we appear to have moved from “first they ignore you” to “then they combat you”. I do not know in the event that they know that the ZK proof works or in the event that they learn the whitepaper, however let’s examine what new assaults they give you as soon as the circuit goes stay this week.
Hyperliquid stays one of many world’s largest decentralized buying and selling protocols, and the latest allegations haven’t severely affected its market place. As reported by CNF, a latest report by Cantor Fitzgerald predicts the venture will proceed to develop right into a $200 billion ecosystem producing greater than $5 billion in charges yearly.
IOTA buying and selling hours $0.08263shedding 5% This month’s loss prior to now day is 29%.
HYPE has additionally been on a downward development prior to now month and has fallen twenty 4% commerce with $24.3 At press time.
