James Wynn, a notable figure in the cryptocurrency sector, raised concerns about Hyperliquid's referral bonuses, which may impact trader loyalty to the platform.
Criticism of Hyperliquid's Bonuses
On June 8, 2025, James Wynn criticized Hyperliquid's referral bonuses, stating that the incentives are relatively weaker compared to other exchanges. Wynn mentioned, 'I earned $34,000 through referrals on their platform, but given the number of registered users and trading volume I brought, this figure is really too low.'
Potential Trading Consequences
Wynn's critique may lead high-volume traders to shift to competing platforms, potentially affecting Hyperliquid's market position. If this trend continues, it could result in decreased trading activity and liquidity on the platform.
Need for Reward Model Reevaluation
Industry observers emphasize the necessity to reevaluate reward models to attract and retain users. Without competitive incentives, Hyperliquid risks losing clients to platforms that offer more appealing options.
James Wynn's critique of Hyperliquid's referral program highlights the importance of competitive rewards in cryptocurrency trading. Reevaluating reward models may assist the platform in retaining traders.
