2026-01-02 17:20:36

The prosperity of perpetual DEXs is facing an unavoidable challenge: the higher the transparency of trading data, the more concentrated the risks become.

Position information, liquidation prices, trading modes—once these data are made public, they become "prey maps" for MEV hunters and snipers. Currently, platforms like Hyperliquid are not large enough, and this issue is not yet prominent, but once the scale explodes, the privacy flaws of on-chain transactions will be fully exposed.

The early internet also operated openly. But when user numbers and data volume reached a critical point, encryption shifted from a luxury to a necessity—thus HTTPS was born.

Blockchain will follow the same path. Everything stored on-chain will eventually require encryption protection, a stage called HTTPZ. Privacy computing solutions like Zama are essentially the HTTPS of the blockchain world—using cryptography to turn transactions from a "public square" into a "private room."

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ApeEscapeArtist

· 3h ago

Speaking of which, this issue is indeed unavoidable. The more popular DEX becomes, the greater the risk—this logic is a bit ironic. Hyperliquid is okay for now, but if it really blows up, sniping will be doomed. The HTTPS analogy is pretty good, but can privacy solutions really be implemented successfully? It still feels a bit early.

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TokenDustCollector

· 3h ago

My goodness, on-chain裸奔 is indeed outrageous, but can Zama really solve this? It still feels too idealistic. But speaking of which, MEV sniping is definitely something that should be taken seriously. It's manageable for small platforms, but if we wait until transaction volume explodes to implement privacy, it will be too late. The HTTPZ analogy is quite fitting, but the issue is that the reliability of blockchain cryptographic solutions is still uncertain. Honestly, I'm more worried about the day when privacy solutions are cracked... it would be even worse then. Zama has potential, but ecosystem development is the key. Are there really many users currently?

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BearMarketMonk

· 4h ago

How many years did it take for the internet to become widely adopted with HTTPS? How many people still use things other than HTTPS today... The issue isn't with the solution; it's about how long it will take for this to be implemented. By then, when MEV is fully exploited, privacy will come? It's too late.

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FloorSweeper

· 4h ago

lol everyone's sleeping on this... the moment hyperliquid actually scales, it's gonna be a bloodbath for paper hands. mev hunters gonna feast fr fr

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