Yan Makes Case for On-Chain Private Markets at Korea Blockchain Week

At Korea Blockchain Week 2026 in Seoul, Hyperliquid co-founder Jeff Yan made the case for on-chain private markets. He argued that private markets are enormous but inaccessible to most people, and that's a problem worth solving on-chain.

Yan's vision is centered around HIP-3, an initiative that allows independent teams to create their own perpetual markets on Hyperliquid without needing permission from the core team. This has already driven meaningful trading volume in non-crypto assets.

Hyperliquid operates with a team of roughly 11 people and has managed to become one of the highest-volume perpetuals platforms in crypto, all while being bootstrapped without any venture capital funding.