Finch

Further to my post about @NYSE working to bring @HyperliquidX onshore, major credit to @ChairmanSelig and the Trump administration for making all of this experimentation possible. There’s only one way of finding out if something is useful to the marketplace and I’m excited for us to find out. I do have some questions: 1. What is the benefit of trading perps on-chain on a regulated exchange? Isn’t the main benefit of trading on-chain to operate in a trustless (aka non-kyc’d) environment in order to minimize friction, and/or to be able to enter into atomic transactions in order to receive what you are buying in realtime? Since a perp is not an asset, that obviously isn’t helpful. 2. @standuquesne - are you aware that if you trade on Hyperliquid, the world will be able to track your positions and trades in real time? Do you see that as a benefit? 3. Hyperliquid has priority fees - a mechanism that enables market participants to pay to see information first, or even prioritize orders in front of the queue. Is this consistent with CFTC core principles? 4. Will it be possible to combine the liquidity of the offshore order-book with the onshore order-book? 5. If not, wouldn’t it be better to list perps in a traditional (centralized) order-book on a regulated exchange and not have the inefficiencies that on-chain matching introduces?