Hyperliquid founder Jeffrey Yan has declined a $100 million investment offer that valued the project at $1 billion, less than a year after its launch. Yan's decision was driven by a commitment to maintain Hyperliquid's "permissionless and neutral" protocol, which he believes could be compromised by external equity capital. Despite the potential financial boost, Yan has been funding the project's operations personally, emphasizing the importance of neutrality over traditional funding. Yan's stance reflects a broader philosophy of extreme decentralization, akin to Bitcoin's early development ethos. He has publicly stated that accepting venture capital could undermine the project's core principles. On January 28, 2024, Yan outlined Hyperliquid's foundational principles on social media, emphasizing no investors, no paid market makers, and no fees for the development team, reinforcing the project's commitment to decentralization and independence.