@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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