HYPE is also a makeshift team, and the official account can be hacked.

Why does it feel like HYPE is encountering issues every few days?

I still don't believe HYPE can replace centralized exchanges.

Essentially, HYPE is no different from DYDX or GMX. Perhaps there are innovations in some aspects, but fundamentally they are the same.

I sold my long-held DYDX and GMX in the first half of last year.

The reason for selling is simple: after experiencing their products a few times, I found that playing contracts on-chain is very inconvenient. The experience is nowhere near as good as that of exchanges. This kind of on-chain contract gameplay is unlikely to have a large audience in the short term. It's not like buying spot; you just buy the spot and transfer it to your wallet. With contracts, you often have to keep an eye on them, which is very inconvenient. Especially with large funds, in the event of problems, it can easily lead to financial losses. Based on these reasons, I sold all of them.

Personally, I believe decentralized exchanges will never have as many users as centralized exchanges. HYPE will also not surpass BNB. Doing contracts on decentralized exchanges is too difficult for newcomers. Contract trading often requires a lot of time to monitor the market, and the procedures on-chain are overly complicated. Unless one day, due to policy reasons, centralized exchanges stop offering contract trading, then perhaps HYPE will have a chance.