According to Wu Blockchain, Jarsy CEO Han Qin stated that the key reason dYdX has been marginalized by Hyperliquid lies in the liquidity responsibility mechanism. He believes that dYdX's insistence on the 'protocol not taking responsibility' DeFi design leads to a loss of depth when market makers withdraw during extreme market conditions. On the other hand, Hyperliquid is more centralized, has a treasury, and is willing to take on liquidity responsibility, making it more suitable for high-leverage perpetual contract markets. As a result, it has gradually attracted users and market makers to migrate. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=54755