Don Wilson questions Hyperliquid's priority fee mechanism and position transparency

Odaily: Don Wilson posted on X stating that after the New York Stock Exchange's parent company pushed to bring Hyperliquid into the U.S. market, he raised questions about the advantages of on-chain perpetual contracts, the transparency of positions and trades, whether the priority fee mechanism complies with CFTC core principles, and whether offshore and onshore order book liquidity can be merged. He noted that on-chain trading can reduce friction in an environment that requires no trust and identity verification, or receive purchased assets in real time through atomic transactions, but perpetual contracts themselves are not assets, so the latter advantage does not apply; he also asked whether Stan Druckenmiller regards real-time trackability of positions and trades as an advantage. Previously, ICE and trade[XYZ] announced plans to use Hyperliquid as infrastructure to deploy, after obtaining regulatory approval, a perpetual contract market covering crypto assets, equities, commodities, foreign exchange and other physical assets for U.S. traders, with ICE operating the regulated market and clearing architecture.