Hyperliquid Co-Founder Jeff Yan: Continuous Trading Not Unique to On-Chain Exchanges

Jeff Yan, co-founder of Hyperliquid, a decentralized perpetual contract trading platform, emphasized that around-the-clock trading is not the key difference between on-chain and traditional exchanges. According to Yan, cryptocurrencies have inherent international characteristics, allowing them to trade continuously without being bound by traditional market opening hours.

Some traditional exchanges are already extending their trading periods in response to this trend.

In contrast to traditional systems, Yan highlighted that the true value of on-chain finance lies in users retaining control over their funds and having direct access to transparent information. This helps mitigate a common risk, single-point failures, where users' assets can be frozen or lost due to issues with trading counterparts, intermediaries, or custodians.

Yan pointed out that transparency is another distinctive feature of on-chain transactions, even if it may not be highly appealing to ordinary consumers. However, trust and neutrality are essential for the entire system, especially in comparison to traditional systems controlled by private organizations where users can't expect the same level of trust or impartiality.