James Wynn Predicts The Death Of Hyperliquid Over Poor Referral Bonuses

James Wynn says Hyperliquid is inching toward its end after failing to offer sufficient referral bonuses to the high-risk trader. Wynn clarified that his high-octane trades were not a ploy to promote the decentralized exchange (DEX) with Hyperliquid rebuffing his attempts at a partnership.

A CZ-backed DEX Will Kill Hyperliquid

High-risk trader James Wynn has criticized Hyperliquid over its poor referral plan for users, noting that the policy will be its greatest undoing. According to an X post, Wynn confirmed that the rise of new platforms with better incentives will be the “end” of Hyperliquid.

James Wynn disclosed that he made $34,000 in referrals on Hyperliquid, arguing that the amount is a poor sum considering the number of signups and trading volume he generated.

“Their referral program sucks,” wrote Wynn on X. “Other platforms have far better.”

However, Wynn argues that the launch of dark pool DEX by Binance founder Changpeng Zhao will replace Hyperliquid. CZ’s dark pool DEX proposal revolves around prioritizing privacy for traders, with Wynn mulling the possibilities of juicy referral rewards.

Already, COTI has launched a new privacy-focused DEX inspired by CZ’s proposal, but it is unclear if the Binance founder will float his own exchange.

“CZ has the money, network, teams to build something like other,” said Wynn. “Look at what he’s done with Binance.”

DEX Refutes James Wynn’s Offer For A Collaboration

Since Wynn began his leveraged crypto futures trade on Hyperliquid, the platform has recorded a spike in trading volumes and user metrics.

HYPE price is up by nearly 50% in the last month, with the rally coinciding with the start of Wynn’s trading spree. Furthermore, Arthur Hayes predicts the HYPE price to reach $100 on the back of the buzz generated by James Wynn’s trades.

James Wynn revealed that he tried on two occasions to reach a partnership deal with Hyperliquid on the back of the buzz he generated for the DEX. He noted that the Hyperliquid team turned down his proposal because a partnership is against their policy. Previously, speculation has swirled that his trades were a marketing gimmick to draw users to Hyperliquid.

“I was not paid a single cent by Hyperliquid,” said Wynn.

Wynn has dumped Hyperliquid on multiple occasions, pledging to quit crypto perpetual trading after jarring losses. The high-risk trader has criticized big players for leveraging on the transparency of DEXs, manipulating prices to force liquidations.