Hyperliquid founder Jeff Yan said during a TOKEN2049 Week conversation in Singapore on Oct. 7 that HIP-3 markets were met with strong demand soon after launch, a sign that the segment has shown clear product-market fit.
Yan said users are willing to move from existing financial products into new on-chain markets. He said that points to a sizable gap in product supply and also shows user trust in the execution capabilities of deployers in the space.
Use cases emerging for HIP-3
Speaking about HIP-3’s development, Yan said one of the most exciting changes over the past year has been the growing number of markets that let users take part in trading opportunities that were previously unavailable to them.
The conversation cited perpetual contracts linked to real-world assets such as crude oil and Pre-IPO markets as important application areas for HIP-3.
View on access in finance
Yan said that in traditional finance, some assets are often available at an early stage only to a small group of participants. By the time those assets are opened to the public, much of the main growth phase may already have been captured by people with privileged access.
He said the financial system should be opened to a broader group of users wherever possible.
How Hyperliquid sees its role
Yan also said Hyperliquid would rather serve as an open protocol and infrastructure layer for different financial products and applications than compete directly with front-end platforms.
According to him, Builder Codes allows developers to build products such as mobile applications and institutional-grade trading terminals without having to set up core systems such as matching and liquidation on their own, while connecting directly to Hyperliquid’s markets and liquidity.
Yan said, 「No one is competing with the internet」, adding that Hyperliquid is better understood as an infrastructure layer that can be adopted by different companies.