Hyperliquid

vs

MEXC

Hyperliquid is the largest onchain perp exchange, clearing over $300 billion a month on a custom Layer 1 using HyperBFT for one-block finality and sub-second execution. Its onchain order book processes more than 200,000 orders per second.

Founded in 2023 by former HRT engineer Jeff Yan, it offers 100 plus perp markets with up to 40x leverage, permissionless listings, and USDC-margined contracts. All trading and liquidations settle onchain through HyperCore and HyperEVM.

The network is community owned with no paid market makers or listing fees, secured by a validator set running HyperBFT. Hyperliquid releases verifiable onchain data on funding, open interest, liquidations, and vault activity.

MEXC, founded in 2018 by John Chen, is a major crypto exchange offering perpetual futures with leverage up to 200x and access to over 2,900 cryptocurrencies. 

Serving 30 million traders in 170 countries, MEXC features low futures fees, diverse altcoin markets, and special perks for high-volume users. 

While it provides robust security through Proof of Reserves and cold storage, MEXC remains unlicensed by major regulators and has drawn warnings from several global financial bodies.