The transparency of information is very important. Platforms like Hyperliquid are very open and transparent; every transaction record can be easily queried.

In contrast, some poor imitators, such as Kiloex, Allo, and Myx, the so-called decentralized exchanges, completely fail to be open and transparent. Moreover, they have significant issues in many aspects. To put it bluntly, they all violate the principles of decentralization, openness, transparency, and security.

Take Kiloex as an example: they do not disclose users' trading information at all, and the trading fees are extremely high, referring to the BNB chain.

Another example is Cetus under the Sui ecosystem, which was recently exposed due to security boundary issues in its code; their smart contract code can go without maintenance for six months and has no security audit. A DEX like this is not something anyone would genuinely want to use, except for those looking to take advantage.