Matt

building an open, composable trading infrastructure that powers where all finance happens.
views are my own. nfa.

[Matt @matthubuilds]

@0xgodzubby will do

[Matt @matthubuilds]

Some context on the team behind TxFlow, since people keep asking.

We are close to 100 people and still growing. Engineers and product builders from Stanford, MIT, Tsinghua, spread across 20+ countries.

To be clear: headcount is not a moat. Hyperliquid proved a small team can build something great, and we respect that. Our bet is different. We think the next generation of onchain financial infrastructure (matching, risk, liquidity standards, decentralization roadmap) is a scope problem, and we are staffing for that scope.

What I think actually matters more than team size:

We are building through a bear market, not waiting for one to end. That is a statement about conviction, not timing.

We are committing to a 100% fair launch. Team tokens locked for a minimum of 2 years. No quiet unlocks, no “strategic partners” getting early exits.

And one internal benchmark we hold ourselves to: we do not consider this working until TxFlow volume catches Hyperliquid. Regardless of price, regardless of market.

All of these are verifiable. Hold us to them.

Personal thoughts only, not financial advice. What would make you trust a new perp DEX team: track record, lockups, or shipped product?

[Matt @matthubuilds]

Fair question. Similar narrative, yes: fully onchain orderbook, performance-first L1. But Hyperliquid’s core code was never open sourced, so there is literally nothing to fork. Same hard problem, independent implementation.

Where we diverge: TxBFT is purpose-built for trading workloads, TxCore runs the orderbook, matching, margin and liquidation inside consensus, and TxEVM handles asset issuance so native minting can eventually retire the bridge entirely.

Convergent evolution happens when the endgame is obvious. The proof is in the performance data, and ours is public.

[Matt @matthubuilds]

hero

[Anna Lulis @annamlulis]

WATCH: 16-year-old lifeguard rescues a drowning little boy who was being swept away by powerful waves in California.

Absolute hero.

[Matt @matthubuilds]

@Dunky0x got it.

[Matt @matthubuilds]

People keep being surprised that TxFlow has close to 100 people. Honestly, I expect 300 to 500 in the coming years, and I think that is normal.
Here is the reasoning.
Everything on an exchange costs headcount. Security is not a feature, it is a permanent staffing line. Then matching, liquidations, risk, wallets, infra, audits, incident response, and actual product delivery on top. Small teams ship demos. Exchanges that hold user funds need depth.
And there is a competitive fact nobody should dodge: Hyperliquid is ahead. They earned it. If you show up with fewer people AND a weaker bench than the leader, the math never closes. You do not catch a stronger team by being smaller than them. So we hire.
On the BloFin question, since it keeps coming up: the teams are fully independent, and so is the money. BloFin has USD funds as shareholders, and every dollar there is contractually spent on BloFin. TxFlow is funded out of my own pocket. Different cap tables, different teams, different books.
That is the whole story. The milestones are public and dated: sequencer witness Q3, MPC withdrawals Q4. Judge the strategy by whether we hit them.

[Matt @matthubuilds]

Some context on the team behind TxFlow, since people keep asking.

We are close to 100 people and still growing. Engineers and product builders from Stanford, MIT, Tsinghua, spread across 20+ countries.

To be clear: headcount is not a moat. Hyperliquid proved a small team can build something great, and we respect that. Our bet is different. We think the next generation of onchain financial infrastructure (matching, risk, liquidity standards, decentralization roadmap) is a scope problem, and we are staffing for that scope.

What I think actually matters more than team size:

We are building through a bear market, not waiting for one to end. That is a statement about conviction, not timing.

We are committing to a 100% fair launch. Team tokens locked for a minimum of 2 years. No quiet unlocks, no “strategic partners” getting early exits.

And one internal benchmark we hold ourselves to: we do not consider this working until TxFlow volume catches Hyperliquid. Regardless of price, regardless of market.

All of these are verifiable. Hold us to them.

Personal thoughts only, not financial advice. What would make you trust a new perp DEX team: track record, lockups, or shipped product?

[Matt @matthubuilds]

@goul82 thanks, will do

[Matt @matthubuilds]

blocked someone today. first time in a while. criticism of TxFlow is welcome, I answer hard questions all day. but if every reply is just insults with zero substance, you're not a critic, you're noise. life's short.

[Matt @matthubuilds]

@kar888l can't believe you leaked ILYBDSMAMGGT63 before the whitepaper

ok in plain english: everything happens on the chain, you can verify it yourself. that's it, that's the acronym

[Matt @matthubuilds]

Good question, and worth answering precisely.
No, BloFin is not backing TxFlow. Not as an investor, not as a shareholder, not with corporate resources. BloFin’s capital belongs to its own shareholders and is spent only on BloFin.
The only overlap is me personally. I put my own money into TxFlow and I split my time between the two. So if you want to name a backer, it is me, not BloFin.
Happy to be held to this on the record.

[Matt @matthubuilds]

@ttttcb07 Check this out

[Matt @matthubuilds]

People keep being surprised that TxFlow has close to 100 people. Honestly, I expect 300 to 500 in the coming years, and I think that is normal.
Here is the reasoning.
Everything on an exchange costs headcount. Security is not a feature, it is a permanent staffing line. Then matching, liquidations, risk, wallets, infra, audits, incident response, and actual product delivery on top. Small teams ship demos. Exchanges that hold user funds need depth.
And there is a competitive fact nobody should dodge: Hyperliquid is ahead. They earned it. If you show up with fewer people AND a weaker bench than the leader, the math never closes. You do not catch a stronger team by being smaller than them. So we hire.
On the BloFin question, since it keeps coming up: the teams are fully independent, and so is the money. BloFin has USD funds as shareholders, and every dollar there is contractually spent on BloFin. TxFlow is funded out of my own pocket. Different cap tables, different teams, different books.
That is the whole story. The milestones are public and dated: sequencer witness Q3, MPC withdrawals Q4. Judge the strategy by whether we hit them.

[Matt @matthubuilds]

@doit4dalore 100%

[Matt @matthubuilds]

@Cryptowithkhan check this out

[Matt @matthubuilds]

People keep being surprised that TxFlow has close to 100 people. Honestly, I expect 300 to 500 in the coming years, and I think that is normal.
Here is the reasoning.
Everything on an exchange costs headcount. Security is not a feature, it is a permanent staffing line. Then matching, liquidations, risk, wallets, infra, audits, incident response, and actual product delivery on top. Small teams ship demos. Exchanges that hold user funds need depth.
And there is a competitive fact nobody should dodge: Hyperliquid is ahead. They earned it. If you show up with fewer people AND a weaker bench than the leader, the math never closes. You do not catch a stronger team by being smaller than them. So we hire.
On the BloFin question, since it keeps coming up: the teams are fully independent, and so is the money. BloFin has USD funds as shareholders, and every dollar there is contractually spent on BloFin. TxFlow is funded out of my own pocket. Different cap tables, different teams, different books.
That is the whole story. The milestones are public and dated: sequencer witness Q3, MPC withdrawals Q4. Judge the strategy by whether we hit them.

[Matt @matthubuilds]

@Sherlockwhale @TxFlow_L1 @BloFin_Official check this out

[Matt @matthubuilds]

People keep being surprised that TxFlow has close to 100 people. Honestly, I expect 300 to 500 in the coming years, and I think that is normal.
Here is the reasoning.
Everything on an exchange costs headcount. Security is not a feature, it is a permanent staffing line. Then matching, liquidations, risk, wallets, infra, audits, incident response, and actual product delivery on top. Small teams ship demos. Exchanges that hold user funds need depth.
And there is a competitive fact nobody should dodge: Hyperliquid is ahead. They earned it. If you show up with fewer people AND a weaker bench than the leader, the math never closes. You do not catch a stronger team by being smaller than them. So we hire.
On the BloFin question, since it keeps coming up: the teams are fully independent, and so is the money. BloFin has USD funds as shareholders, and every dollar there is contractually spent on BloFin. TxFlow is funded out of my own pocket. Different cap tables, different teams, different books.
That is the whole story. The milestones are public and dated: sequencer witness Q3, MPC withdrawals Q4. Judge the strategy by whether we hit them.

[Matt @matthubuilds]

@hyunhopee Yes, both me. Left is the current avatar, right is Forbes 2017. Same guy.

[Matt @matthubuilds]

@darthprotocol @youngcantonian @Harry_TxFlow Good reminder, thanks. Early skepticism is a rite of passage, HL walked through the same door.
Our job is just to keep shipping until the milestones speak for themselves. Thanks for the perspective.

[Matt @matthubuilds]

Appreciate you asking directly instead of speculating.
BloFin is fine and I still spend time there. The team has matured to where it runs well without me in every room, which is exactly what you want to build. My marginal impact there is smaller now, so more of my hours go to TxFlow, where they matter most.
BloFin’s goal is unchanged since day one: chase Binance. Nothing dramatic, just a builder putting time where it moves the needle.

[Matt @matthubuilds]

@muarmemuar @TxFlow_L1 Quick fix before this spreads: the ~100 people in my post refers to TxFlow’s own team, not BloFin’s.
Two separate things. Glad you are bullish, just want the reason to be the right one.

[Matt @matthubuilds]

@JoestarCrypto Because X only gives you one badge slot, mate.
I did not leave Bioflin. Most of my hours right now are on TxFlow, so that is what the badge shows. If X ever supports two badges I will happily wear both.

[Matt @matthubuilds]

@MeshClans @JoestarCrypto Teams that never benchmark against the best all have one thing in common: nobody ever benchmarks against them.
Aim small, stay small.