Hyperliquid is emerging as a Layer 3 (L3) blockchain solution built on Ethereum's Layer 1 (L1) and Arbitrum's Layer 2 (L2), designed to enhance transaction speeds and scalability. The platform utilizes the Move programming language, which is backed by real-world assets and features AI-engineered restaking capabilities, reportedly achieving up to 1000 times the transactions per second (TPS) compared to Solana. The ecosystem is supported by a significant $830 million airdrop and aims to facilitate the development of decentralized applications (dApps). However, concerns have been raised regarding its current level of decentralization, as it operates with only four validators, which some argue is insufficient for a truly decentralized network. Additionally, Hyperliquid has been described as a closed-source project, raising questions about transparency within the platform.