Luke Cannon
@lukecannon.eth
Summary of @chameleon_jeff's key points on Steady Lads: - Markets still very active, traders not quiet til much later in a downturn - % of Binance/Bybit volume are primary internal metrics, but don't tell the full story - most people think they're just building an exchange, but it's a lot bigger than that & the perp DEX is just the 1st building block - HLP was a very intentional decision early on to make market making more transparent & community-owned vs the landscape of Alameda & other insider strategies at the time - Hyperliquid is much more decentralized than critics give it credit for, has had 16 validators (who you can talk to) since December - Doesn't harbor ill will toward CEXes for listing JELLYJELLY on perps, says he wouldn't have done it personally "but business is business" - Doesn't view Hyperliquid as a direct CEX competitor, think CEXes & DeFi should co-exist, & Hyperliquid is building how a significant portion of finance should operate on-chain, the original vision of DeFi
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Luke Cannon
@lukecannon.eth
(continued 2/3) - Lots of misunderstandings around HyperEVM as a separate chain when it's really one & the same chain as the exchange (HyperCore) - The purpose of HyperEVM is to make HyperCore programmable, because the most valuable things in finance don't already live on Hyperliquid - Letting people build things themselves is the way to scale (especially aligned with the ethos of crypto), the exception is infra (including infra traditionally viewed as "apps") - There's no other chain you can build on to access DeFi power users transacting billions of dollars a day, & fully integrated with a tier-1 exchange - Tokenized equities, commodities, & forex will all exist on Hyperliquid & there's plenty of talent already building on Hyperliquid to do it - Admits they've been entirely focused on building & poor at comms but that lets others shape your narratives for you - There's so much to build, no point in fighting about drama or stupid takes on twitter
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