The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 14 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Yan: Day-one VC insiders permanently scar a protocol's credible neutrality
“If there are insiders from day one, it doesn't matter how much dispersion of supply, mindshare, talent, et cetera. There is the sort of like the big bang moment will always be there and will always sort of like a scar on the record of the thing.”
Yan: Hyperliquid is built on intuition and never does A/B testing
“It feels like we are, we actually like not very data driven at all. It's basically all intuition. It's just like, we just think really hard about how the world should be. And we just try to do the best thing that will obviously like adapt to data. Like if some…”
Jeff Yan: Hyperliquid will ultimately become the rails for all finance
“And so we hyper liquid really is what we think like credibly neutral protocol, which will ultimately be the rails that kind of all the finance kind of upgrades their tech stack.”
Yan: Hyperliquid Is Primary On-Chain Price Discovery Venue
“Hyperliquid is the primary on-chain venue for price discovery.”
Jeff Yan: Hyperliquid operates with 11 people and zero marketing staff
“We're only 11 people and we don't have it. We don't have, we have no one working on marketing.”
Jeff Yan: Hyperliquid Plans to Launch U.S. Equities Perpetuals By 2026
“There are already some perps on, so there are gold perps tokenized gold and there, I think the answer to when is probably in the next year, because HIP three I think is unlocking a lot of this. So basically letting, it lets anyone kind of come and deploy their…”
Yan: Hyperliquid Generates Over $1B in Annual Revenue
“It does more than a billion dollars in revenue a year.”
Yan: I personally work more than a 996 schedule
“I personally work more than that, but it's because I feel like I don't really have a cap personally, but everyone's.”
Jeff Yan: Main financial pillars on Hyperliquid are built by community
“The sort of like pillars of finance on hyperliquid are, By and large, built by community members.”
Yan: Hyperliquid is hiring in-person only for new recruits
“New, for new recruits, we're trying to do in person only. There, yeah, initially it was remote when we found that it doesn't work super well with our work style.”
Yan: Perpetuals trading generated over 50% of all crypto revenue
“And purpose trading was the obvious one I think it was probably doing. More than 50% of the revenue in all of crypto back then, sort of back of the envelope calculations.”
Yan: Hyperliquid Runs on 24 Top Stake Validators
“It's really not. It's a blockchain. The validator sets permissionless. They're currently 24 validators. You know, anyone can spin one up. It's like top, top 24 by stake. The validator set, you know, every validator executes every transaction, including all the…”
Yan: Automated trading requires approximations due to noise, unlike AI learning
“I think there's a lot of, it feels a bit like doing physics kind of. It's like you do a lot of approximations. You don't, you can't get anything exactly right because markets are basically a, there's a lot of randomness, right? There's more noise than there is…”