On-Chain Finance's True Differentiator: User Control and Transparency

Jeff Yan, co-founder of Hyperliquid (HYPE), spoke at Korea Blockchain Week 2026 about what truly sets on-chain finance apart from traditional exchanges. According to Yan, it's not the availability of around-the-clock trading that makes a difference, but rather the ability for users to retain control and custody of their own funds.

Yan emphasized that this is particularly important during critical moments when issues arise with counterparties, intermediaries, and custodians. He also highlighted transparency as another key advantage of on-chain markets, which allows users to have a high level of trust and neutrality in the system.

In contrast, traditional exchanges are controlled by private organizations, making it difficult for users to have complete control over their funds. Yan noted that continuous hours still matter for certain assets, such as commodities, equities, and pre-IPO names, which may not have a public price when traditional exchanges are closed.

Yan also mentioned the potential of private markets to break the trend of gate-keeping wealth creation. He pointed out that many valuable assets are currently confined to one jurisdiction, but on-chain finance can provide a global financial system for price discovery and asset valuation.