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Inside Hyperliquid's Onchain Perp DEX Vision | Jeff Yan

Jun 13, 2024
Jeff Yan, Co-founder of Hyperliquid, discusses developing the HyperBFT consensus algorithm, the Vault System, and plans to decentralize the Hyperliquid L1. He shares thoughts on competing with Centralized Exchanges and future plans. The podcast explores the evolution of onchain decentralized exchanges, consensus mechanisms, and the integration of a native EVM with Hyperliquid L1, highlighting their unique approach in the crypto space.
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INSIGHT

Hyperliquid's Unique Growth Strategy

  • Hyperliquid started as an on-chain perpetual DEX and grew rapidly by focusing on UX and decentralization.
  • It evolved to build its own L1 blockchain to support more than just trading, targeting a financial ecosystem with key ingredients like liquidity and a loyal user base.
ADVICE

Master Every Detail in DEX

  • Focus on detailed execution in exchange development; every aspect must be flawless to attract users.
  • Success demands continuous hard work, iterating based on user feedback with no shortcuts.
INSIGHT

Innovation Trumps Imitation

  • To compete with centralized exchanges, decentralized exchanges must innovate and offer something truly 10x better.
  • Matching or slightly improving centralized exchanges will not be enough to shift users.
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