Max

Living in a pretty good house for all finance @HyperliquidX

@chameleon_jeff 's dog

0x245146735368ee6d00d1811f24023a93e7a750b3

[Max @Maxhyperliquid]

It was a great pleasure to appear in the last @colossusmag article. Some random kid named @chameleon_jeff is also in the picture if you look closely

[Colossus @colossusmag]

This is the story of Hyperliquid, the most profitable startup per employee on earth, told from a guarded office in Singapore.

Last year, its team of 11 generated $900 million in profit. It's 3 years old, has never taken a dollar of venture capital, and is beginning to change how century-old markets work.

Its founder, Jeffrey Yan (@chameleon_jeff), had never taken a physics class when he picked up a textbook at 16. Two years later, he won gold at the International Physics Olympiad. In 2019, he started trading with $10,000 from a living room in Puerto Rico—working off a television because he didn't own a monitor.

Within 3 years, he was running one of the largest anonymous crypto trading firms.

Then he shut it down. Yan was rich and free, but he had spent years inside crypto, watching it betray itself. Bitcoin's central premise was decentralization. Yet the biggest exchanges were centralized. Crypto kept reintroducing the dependence on trust it was built to eliminate. He set out to create what should have existed.

Hyperliquid is a blockchain with a trading exchange on top, and anyone can build on it. Yan's vision is to house all of finance. In 3 years, it has done over $4 trillion in volume. And in the past few months, it has begun to outgrow crypto.

Markets for oil, silver, and the S&P 500 now trade on Hyperliquid around the clock, weekends included, and are growing roughly 40% week on week. When the US and Israel bombed Iran on a Saturday in February, Hyperliquid was the venue traders turned to.

Hyperliquid's success has cost Yan his freedom. He works out of a secret office in Singapore and cannot travel without two bodyguards. Even the team's housekeeper doesn't know what they do.

In January, @domcooke spent a week at their office. Read his profile on Yan and @HyperliquidX below.

[Max @Maxhyperliquid]

0x245146735368ee6d00d1811f24023a93e7a750b3

Only CA

[Max @Maxhyperliquid]

NYSE's owner picks Hyperliquid for 24/7 perps, US regulated.

So I rang the bell.

[shoku @sershokunin]

trade[XYZ] launched its first market on Hyperliquid 381 days ago. Today, we are joining forces with ICE, parent company of the New York Stock Exchange, to bring perpetual futures on Hyperliquid to U.S. regulated markets.

I don’t usually write long posts, but today merits reflection.

For years, builders across this industry have worked to show that open, onchain markets could support price discovery, manage risk, and withstand stress to the standards of traditional market infrastructure, all while staying open when and where those markets aren’t.

Our achievements stand on the shoulders of those builders. And today, the company that owns the New York Stock Exchange has chosen to build upon the work of every developer, trader, market maker, and user who took a chance on us and our markets. We share this moment with all of you.

Markets are shaped by their participants. A new generation of investors trades from their phones, across asset classes, at any hour of any day. Until Hyperliquid, the right infrastructure for those markets didn’t exist.

Building these markets was hard. It took novel approaches to pricing, funding, and risk, refined with real capital at stake, in markets that don’t close. It also meant earning the trust of the people trading on them. We’re honored that the community recognized that effort and responded in kind.

That trust is what allowed us to grow our volumes to a ~$1 trillion annualized run rate in just over a year, to help pioneer new instruments like pre-IPO perps, and to earn the confidence of storied institutions like S&P Dow Jones Indices. That’s why ICE has chosen trade[XYZ] as its exclusive partner to bring 24/7 perps to the U.S.

Shifts in technology have pushed markets toward greater transparency, better price discovery, and broader access: from the coffee house to the curb exchange, ticker tape to the telephone, the trading floor to digital exchanges.

ICE helped write that last chapter. In 1997, Jeff Sprecher bought a small power-trading technology business for $1. ICE launched as an electronic energy marketplace in 2000, helped digitize major commodity markets, and acquired the NYSE in 2013. It has grown exponentially because of this appetite for innovation. That’s the partner we wanted: a partner that looks forward and embraces progress.

Americans deserve access to the most innovative markets in the world, and the protections of U.S. regulation. With trade[XYZ] and ICE, subject to regulatory approvals, they’ll have both.

The difference isn’t just access. Perps don’t expire, so traders never have to roll positions, and liquidity concentrates in a single deep market for each asset. Cross-margining enhances capital efficiency by letting one pool of collateral back positions across stocks, commodities, and crypto. Underpinning it all are atomic clearing and settlement, real-time risk management that enables continuous markets, and universally applied rules that anyone can verify. This is the next chapter we’ll write together.

My responsibility, our responsibility, is to now build markets worthy of the confidence our partners and our users have placed in us. Our commitments will not waver: to fair and transparent markets, to diverse markets, to low costs of execution, and above all, to market integrity.

All of this in pursuit of one thing:

A universal exchange, open around the clock, coming to the United States.

We’re proud to have deployed more than 100 markets on trade[XYZ]. But measured against the opportunity ahead, we’ve barely started. There is an enormous universe of assets we haven’t reached, alongside things people want to trade that have no established market at all. Wherever there is demand to trade an asset, we want trade[XYZ] to be where its price is discovered.
Global stocks, commodities, bonds, pre-IPO companies, compute, new indices, digital assets, interest rates, equity baskets, volatility products, alt assets… Anything. Anytime. Anywhere.

Ultimately, everything you own should work with everything you trade. Picture a headline breaking on Saturday night. You should be able to post tokenized shares as collateral, hedge your portfolio with an index perp, add exposure to oil, and take a view on a company that has not yet gone public. All in one account, all on one risk engine, before any traditional market opens. trade[XYZ] and Hyperliquid were built for this.

I hope someone opens their first investment account years from now to find that trivial, and to wonder why their predecessors needed so many separate financial relationships. Getting there will take liquidity, reliability, trust, and prices people have reason to believe. It will take years. I’m prepared to spend them.

Finally, a few thank yous.

First to the XYZ team: For the tireless nights and for committing to this vision before it was obvious.

To Jeff Sprecher and ICE, with special thanks to Michael Blaugrund and Trabue Bland who championed us throughout: You’re a world-class, technology-embracing team that proves innovation and scale are in fact not at odds.

To Stan Druckenmiller: For your partnership and helping us turn the next page.

To Hyperliquid Labs: For being the best partners we could ask for. You set an impossible standard, one we continually strive to meet. @chameleon_jeff, @iliensinc, @xulian_hl

And most importantly, to our users: You traded these markets when no one thought it mattered.

Guess what? It did.

[Max @Maxhyperliquid]

HyperLIQD

[LiquidLabs @LiquidLaunchHL]

A new era for LiquidLaunch starts now.

After Sunrise comes Midday - the sun shines upon everyone now.

Feast your eyes on the new and improved LiquidLaunch.

[Max @Maxhyperliquid]

@jontyjr55882 Try on gmgn

[Max @Maxhyperliquid]

I heard $HYPE made a new ATH today, so I used 37.7 $HYPE to buy and burn ~0.65% of the $MAX supply.

Max supply goes down as $HYPE goes up.

Never left

[Max @Maxhyperliquid]

@LiquidLaunchHL HyperMax

[Max @Maxhyperliquid]

Transaction link : https://t.co/AJYminqhYb

[Max @Maxhyperliquid]

@MEn_Captain_ Sure

[Max @Maxhyperliquid]

This is not me.

I’ve been building $MAX on HyperEVM for 2 months, organically. Fees redirected to buy back $MAX and send supply to Hyperliquid Labs.

Be careful of accounts trying to ride the lore.

The real $MAX 👇
https://t.co/NlVHZwfyhD

[Max @Maxhyperliquid]

@PerpetualCow What about pushing the one that’s already live for 2 months ?

[Max @Maxhyperliquid]

@kinweb3yt @dexscreener Hopefully soon, GMGN too

[Max @Maxhyperliquid]

Comfy $MAX hyperliquid:native

[Max @Maxhyperliquid]

All fees are redirected to buy back $MAX and sent to the Hyperliquid Labs address.

Full alignment.

[Max @Maxhyperliquid]

Just bought & sent ~0.3% of $MAX supply for 17 $HYPE to the Hyperliquid Labs address
→ https://t.co/AxdrKbRLh6

They now hold ~5.5% of the total supply

Hyperliquid ethos.

Maxliquid.

[Max @Maxhyperliquid]

A $MAX pair appeared on HyperSwap with almost no liquidity, it's showing on DexScreener but do not trade on it.

The real pool is on @LiquidLaunch: 👉
https://t.co/NlVHZwfyhD

Their pools are currently waiting to be listed on DexScreener.

Maxliquid.

[Max @Maxhyperliquid]

Green light. We never stop.

Maxliquid. $MAX hyperliquid:native

[Max @Maxhyperliquid]

This account has nothing to do with me or $MAX.

They stole every single illustration and tweet I did.

The only official $MAX contract is:

0x245146735368ee6d00d1811f24023a93e7a750b3

Don’t get scammed.

[Max @Maxhyperliquid]

@Erc20tio @chameleon_jeff @HyperliquidX It's in progress

[Max @Maxhyperliquid]

Some knew from day one.

I was there day one.

$HYPE ATH 🌕

HyperMaxliquid.

[Max @Maxhyperliquid]

@Nagaverse @chameleon_jeff @HyperliquidX @BasedBot