Thread by @kirbyongeo

ICYMI - Fireside Chat with Hyperliquid Founder Jeff Yan @ TOKEN2049, Hosted by @hal2001

Intern notes by @kirbyongeo

Why does Hyperliquid work so well? 🤔
@Hyperliquid's founder, Jeff, shares insights on how they built a frictionless, capital-efficient, and community-driven DeFi powerhouse.

🧵👇

1/ Jeff highlights that Hyperliquid succeeds by ensuring that the 'chain and application are not fighting each other.'

This means abstracting away complex crypto steps, creating a UX comparable to centralized exchanges.

2/ A key example? Intentionally building in features like delegating trading permissions. What now seems like a 'no-brainer' was a deliberate design choice, removing friction and making the product tick for users who 'don't care at all about the tech.'

3/ Diving into product: Jeff argues that perpetual futures (perps) are superior for retail traders.

Why? They offer unparalleled liquidity concentration and simplify leverage, unlike fragmented options or dated futures contracts.

4/ Perps abstract away complexities like funding rates, allowing users to focus on 'delta exposure.' For speculating on a continuously evolving single number, perps offer the most efficient market for price discovery.

5/ Hyperliquid's core team of 11 intentionally fosters a 'fuzzy line' between core developers and app builders. This is amplified by HIP-3 (permission-less perp deployment) and Builder Codes, which incentivize external teams.

6/ Example: @phantom Wallet used Builder Codes to integrate perps, leveraging Hyperliquid's backend while focusing on their unique distribution & user interface. It's about perfecting infrastructure once, then letting competent builders innovate on top.

7/ The vision is to 'house all of finance,' and that includes stable-coins.

Hyperliquid aims to be the platform where leading stablecoins are built, upgrading traditional finance by providing permission-less, global access to efficient markets.

8/ Jeff believes the free market, driven by incentives & user trust, will ensure high-quality applications thrive on this neutral infrastructure.

Watch the chat here:

Job's not finished.

Hyperliquid

1.