Jeffrey Yan

Jeffrey Yan@chameleon_jeff · 19 天前观点输出

link to the paper: https://t.co/pcrrmFsVSl

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Jeffrey Yan@chameleon_jeff · 19 天前赛道影响

Someone recently shared this paper with me, which rigorously studies the execution improvement of visible TWAPs on Hyperliquid: "Trading in the Sunshine or in the Shade: Market Impact and Adverse Selection on Hyperliquid," by Davide Barone and Fabrizio Lillo. In physics, theorists can say all they want, but the case isn't closed until an experimentalist comes with the cold hard data. So thank you to the authors of this paper for their hard work! The paper demonstrates that liquidity net tightens as onchain TWAPs surface, improving the average execution of the TWAP order. This has been a deeply personal question for me. Even before building Hyperliquid, I've defended from first principles that transparent trading ought to improve execution for non-toxic flow. This is a corrollary of the efficient market hypothesis, but the amount of pushback always surprised me. I've quote tweeted a previous post where I make the argument in detail. Transparency and equal access bring improved execution over traditional private venues. It's an honor to build with everyone to upgrade the financial system with onchain technology.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jeffrey Yan@chameleon_jeff · 26 天前赛道影响

This is a cool dashboard: historical and realtime liquidity comparisons across venues. Hyperliquid is not only the most liquid venue for major crypto and RWA perps, it's more liquid by an *order of magnitude* for some of them like the S&P500. Thanks to the ASXN team for building this!

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jeffrey Yan@chameleon_jeff · 2026/07/10赛道影响

Thanks for having me on the podcast! It was a great conversation about a new category of integration: the first centralized exchange directly tapping into Hyperliquid's onchain infrastructure.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jeffrey Yan@chameleon_jeff · 2026/07/03赛道影响

Africa's largest crypto exchange will power their core perps offering directly using Hyperliquid's onchain liquidity. This is a major milestone that will redefine how the next generation of financial applications are built. The breakthrough of cloud computing was that any startup could quickly test their idea, with the comfort that the infrastructure would scale with their business. As the most liquid global venue for assets such as BTC, Hyperliquid will play the same role in the global economy. By tapping into the deepest onchain liquidity, builders can instead focus on their product and users. Huge congratulations to the VALR team. We are honored that they chose to build on Hyperliquid. Excited to scale together!

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jeffrey Yan@chameleon_jeff · 2026/05/15政策影响

I spent the past few days in Washington with @hyperliquidpc meeting with policymakers during the historic advancement of the Clarity Act. We discussed Hyperliquid, the benefits that it offers to American consumers, and the regulatory path to bring onchain derivatives markets into the United States. Some conversations were technical with an impressive baseline understanding of Hyperliquid. Discussions included how onchain trading is a financial innovation that has clear global user demand. Other conversations focused more on a first principles introduction to defi and the promise of onchain markets. It was encouraging to see bipartisan support for thoughtful regulation of crypto. I look forward to continuing discussions in DC and working hard to make American access to Hyperliquid a reality.

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Jeffrey Yan@chameleon_jeff · 2026/05/14政策影响

Excited to see everyone come together for this historic moment. AQAv2 brings the protocol-aligned stablecoin model that @Nativemarkets trail-blazed to USDC with @Coinbase and @Circle's commitment to Hyperliquid. The community no longer has to choose between liquidity and alignment. Our industry will face adversity as we continue to grow. It gives me hope seeing titans of the industry come together to build for users and bring all of finance onchain.

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AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。

Jeffrey Yan@chameleon_jeff · 2026/04/13赛道影响

Thanks @domcooke for spending months on researching and writing this piece. Einstein once said, "If you can't explain it simply, you don't understand it well enough." By that measure, Dom has blown me away with how deeply he came to understand Hyperliquid and what we're all building together. When someone asks what "housing all of finance" means, I'm proud to point them to this piece. I hope readers appreciate just how much Dom and his team put into their work. It reflects the thoughtful craft that is in Hyperliquid's DNA. Special thanks to @patrick_oshag for taking a bet on Hyperliquid's story.

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Jeffrey Yan@chameleon_jeff · 2026/03/18赛道影响

Huge congratulations to TradeXYZ and S&P for this historic partnership. I'm honored that these teams choose to build on Hyperliquid. Seeing official S&P500 perpetual futures launch exclusively on Hyperliquid is a validation of everyone's past years of hard work: global access to decentralized finance, perpetual futures as 24/7 price discovery, and Hyperliquid upgrading the existing financial stack to house all of finance. The S&P500 is synonymous with "the market," a single number that captures the essence of the largest economy in the world. Looking forward to tracking the world's most important financial gauge 24/7 on the most liquid permissionless markets.

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AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。

Jeffrey Yan@chameleon_jeff · 2026/02/20政策影响

It was great to have a second conversation with @KevinWSHPod more than a year after the first. While the first conversation was a general introduction to Hyperliquid's mission and philosophy, the second goes deeper into technical points. We also discuss how the ecosystem and vision have expanded since then. Thanks for having me on!

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AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。