BLP revenue capture and protocol take rates

In this episode we are joined by Charlie from Felix to discuss the evolution of trading platforms. We focus on market structure incentives, liquidity and user experience challenges, competition among protocols, and how revenue models and product strategy shape long-term direction.

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As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

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Timestamps:

(0:00) Introduction

(0:50)   Spot Liquidity and UX Issues

(17:21) Felix Tokenized Stocks

(20:10) HIP-3 Competition

(29:37) BLP Overview

(36:03) Building on Top of BLP

(40:26) Consumer Apps vs Power Users

(43:02) Uniswap Ad

(43:47) Hyperliquid's Path Forward

(53:12) Revenue and Buybacks

(1:01:22) Closing Comments

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Boccaccio, Danny, and our guests may hold positions in the companies, funds, or projects discussed.