#BTC
I heard recently that Hyperliquid is backed by Zhang Jian from FCoin. I can't confirm the authenticity and don't really care. But from the perspective of product and team, it makes sense.
FCoin launched trading mining in 2018, claiming to have a daily trading volume seven times that of Binance within half a month. Hyperliquid's HYPE airdrop distributed 31% of tokens directly to users without VC shares, with a value that increased from $1.8 billion to over $7 billion, the largest in history. The essence of both is the same: it's not about giving away money, but designing a flywheel that gets more profitable the more it's used.
FCoin's core team has about 10 people. Hyperliquid currently has 11 people, with an average daily trading volume of $6.4 billion, totaling nearly 26 trillion, almost double that of Coinbase, and users have grown from 300,000 to 1.4 million. 11 people. If the flywheel is designed correctly, a large team is not necessary.
Neither takes VC money. Jeff self-funds using the profits from his quantitative trading, rejecting all VCs, and giving all tokens to the community. FCoin was one of the first to call for decentralized exchanges, two years earlier than DeFi Summer. Zhang Jian was previously the CTO of Huobi and witnessed the drawbacks of centralization; Jeff said the collapse of FTX was his direct motivation for starting his business. The essence of their motivation is the same: having seen the fragility of centralization, they aim for decentralization.
Zhang Jian has not shown up due to FCoin. In fact, FCoin has more than one shareholder; there are multiple partners, and he ended up bearing the burden of the hole of 7,000 to 13,000 BTC. It’s understandable that he won't show up this time.
What I've learned from this is: the innovation of the flywheel mechanism is more important than AI or trading itself. Only by designing a growth engine that users voluntarily disseminate and self-reinforce can we create the deepest moat.
HyperLiquid fee discount activity:
https://app.hyperliquid.xyz/join/HY888
I heard recently that Hyperliquid is backed by Zhang Jian from FCoin. I can't confirm the authenticity and don't really care. But from the perspective of product and team, it makes sense.
FCoin launched trading mining in 2018, claiming to have a daily trading volume seven times that of Binance within half a month. Hyperliquid's HYPE airdrop distributed 31% of tokens directly to users without VC shares, with a value that increased from $1.8 billion to over $7 billion, the largest in history. The essence of both is the same: it's not about giving away money, but designing a flywheel that gets more profitable the more it's used.
FCoin's core team has about 10 people. Hyperliquid currently has 11 people, with an average daily trading volume of $6.4 billion, totaling nearly 26 trillion, almost double that of Coinbase, and users have grown from 300,000 to 1.4 million. 11 people. If the flywheel is designed correctly, a large team is not necessary.
Neither takes VC money. Jeff self-funds using the profits from his quantitative trading, rejecting all VCs, and giving all tokens to the community. FCoin was one of the first to call for decentralized exchanges, two years earlier than DeFi Summer. Zhang Jian was previously the CTO of Huobi and witnessed the drawbacks of centralization; Jeff said the collapse of FTX was his direct motivation for starting his business. The essence of their motivation is the same: having seen the fragility of centralization, they aim for decentralization.
Zhang Jian has not shown up due to FCoin. In fact, FCoin has more than one shareholder; there are multiple partners, and he ended up bearing the burden of the hole of 7,000 to 13,000 BTC. It’s understandable that he won't show up this time.
What I've learned from this is: the innovation of the flywheel mechanism is more important than AI or trading itself. Only by designing a growth engine that users voluntarily disseminate and self-reinforce can we create the deepest moat.
HyperLiquid fee discount activity:
https://app.hyperliquid.xyz/join/HY888