Jeff Yan says he might study options if starting a business again, believing that HIP-4 can be used to build an options protocol

AT A GLANCE

Jeff Yan said that, if starting a business again, he might study options and believes that HIP-4 is suitable for building an options protocol.

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Jeff Yan: If starting a business again now, I might choose to study options

BlockBeats news,October 8，Hyperliquid founder Jeff Yan, in DAS 2026 Asia, was interviewed by the Empire podcast and asked, “If you were a builder and were no longer allowed to build infrastructure, what would you build?” He said:

“I would look around 4 to see what has not been built yet and has real potential. It depends on what other builders are doing. At least at this specific moment, I might study options, because I hear that many people want to trade them. I think perpetual contracts broadly meet the needs of many users, but some users do say that when trading perpetual contracts, they do not fully express all the market views they want to express.

I think HIP-4 is a very obvious way to build an options protocol. You can inherit spot, the order book, and portfolio margin; if you are on the market-making side, you also have perpetual contracts that can be used to hedge the delta of options. I think the key is how you turn that one element into something broadly appealing. I do not think any options-like or convex-payoff-style product has truly reached escape velocity in crypto, but it clearly has in traditional finance.”

Original link https://m.theblockbeats.info/flash/370791

Key points

Jeff Yan was interviewed on DAS 2026 the Empire podcast on the Asia site.
Jeff Yan said that, if he were no longer allowed to build infrastructure, he might study options.
He believes perpetual contracts cannot meet some users’ needs to express all of their market views.
He believes that HIP-4 can inherit spot, the order book, and portfolio margin, and can use perpetual contracts to hedge the delta。
of options. He said that options or convex-payoff-style products in crypto have not yet truly reached escape velocity.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This interview expresses Jeff Yan’s views on potential entrepreneurial directions and options protocol design; it does not represent that an options product has already been launched.HIP-4 was regarded by him as one way to build such a protocol.

Why it matters to readers

This shows that Hyperliquid relevant builders are discussing options products and the trading, margin, and hedging mechanisms they require.

Options are tools that allow traders to express views on future price movements; the text also mentions product-design elements such as margin and hedging.

Risks and unknowns

It cannot be confirmed from the evidence Hyperliquid whether an options protocol will be formally pursued.
It cannot be confirmed from the evidence HIP-4 whether an options protocol is already supported.
The evidence cannot confirm the demand, liquidity, or actual trading performance of the relevant product.

Jeff Yan says he might study options if starting a business again, believing that HIP-4 can be used to build an options protocol

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