PANews January 8 report, X platform user Kam (@KamBenbrik) published a letter to the Hyperliquid Core team, providing several points of feedback regarding Hyperliquid chain management. The main content includes: ① Validators face significant challenges, including closed-source code, lack of documentation, and reliance on centralized APIs, leading to frequent 'jailing' and unstable performance. ② Testnet incentives have triggered black market trading of HYPE tokens, favoring agreements with large holders rather than fair validator selection. ③ Mainnet validator rewards are too low to cover high self-bonding requirements, and the degree of decentralization is limited, with 81% of staking controlled by foundation nodes. ④ To compete with major Layer 1 blockchains, Hyperliquid must increase transparency, decentralize staking, implement a fair validator selection process, and strengthen interactions with external validators.