Custody is a permission problem, not a trust problem
Most automated trading products solve access by taking custody: you deposit into their account, they trade, and you rely on their solvency and honesty to get your money back. Every failure in that model has the same shape — the funds were somewhere you could not reach.
Hyperliquid separates the right to trade from the right to move funds at the protocol level. That turns a trust question into a scope question, and scope is verifiable on-chain rather than promised in a terms document.