just read the colossus piece on Jeff and hyperliquid, very inspiring
before hyperliquid, jeff yan tried building a decentralized prediction market called deaux
got into binance incubator but it failed (too early, no users, regulatory ambiguity) so he went and built hyperliquid instead
11 people, zero VC, now doing $188B+ monthly perps volume
he didn't go back to fix prediction markets
he went and solved a much bigger problem which is building the most dominant derivatives infrastructure in defi
and it just so happens that the platform he built to solve that bigger problem now has everything his prediction market needed to survive the first time:
the users, the liquidity, the execution, and the distribution
he doesn't need to revive deaux because hyperliquid already ate the problem that killed it
@KITKAT ate with this one. hands down the best April fools post I've seen all day and it's not a prank. comment section is absolutely unhinged lmao.
have a break
https://t.co/3HNEtjMPVM
thanks for having me @WPReadingClub
great session, really enjoyed this one as every point sparked a debate. strong turnout, and the crowd was mostly non-crypto, which to me is the signal.
1/3 🇲🇾 WPRC KL [08] was a deep dive on prediction markets - looking into the plumbing: market structure, liquidity design, fees, and how resolution actually works.
Thank you to @jolimmmm (co-founder of @TideMarkets, ex-Citi trader) who lead the discussion and fielded some crazy questions! Thank you to @0xYudhishthra and @shuenrui of WPRC-KL for running Whitepaper Reading KL for over a year, and for organizing such an incredible discussion!
Topic Summary: (1) prediction markets are an engineering stack. (2) Microstructure + incentives + transparency + resolution = whether a market scales, (4) stays fair, and produces usable “signals.”
Discussion Notes:
(1) Order book vs AMM tradeoffs (liquidity + startup cost vs long-tail scalability)
(2) Fees + maker incentives as “market quality levers”
(3) Dynamic liquidity/alpha for better price control + operator sustainability
(4) Onchain transparency vs MEV/manipulation realities
Summary: https://t.co/6uROsst1K5
Detailed Notes 👇