Hyperliquid co-founder Jeff Yan: Self-custody and transparency are the long-term advantages of on-chain finance
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AT A GLANCE
Jeff Yan believes that the enduring advantages of on-chain finance are self-custody and transparency, rather than 24-hour trading.
Article
Hyperliquid Co-founder Jeff Yan: The true advantages of on-chain finance lie in self-custody and transparency, rather than around-the-clock 24-hour trading
PANews September 30 reported, citing The Block, that Hyperliquid co-founder Jeff Yan said at Korea Blockchain Week that around-the-clock trading is not the core advantage distinguishing on-chain finance from traditional exchanges, which are also extending their trading hours. He believes the more enduring differences are that users can custody their assets themselves and that on-chain systems are transparent; self-custody is particularly important when an intermediary or custodian encounters problems. Yan said that 24-hour trading remains valuable for trading stocks, commodities, and pre-IPO companies that lack quotes during traditional market closures. He also sees potential for on-chain markets to provide global price discovery for private assets.
According to a PANews report citing The Block, Hyperliquid co-founder Jeff Yan expressed these views at Korea Blockchain Week.
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Jeff Yan stated that / trading is not the core advantage that differentiates on-chain finance from traditional exchanges, which are also extending their trading hours.
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Jeff Yan believes that the more enduring differences are users’ ability to self-custody their assets and the transparency of on-chain systems.
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Jeff Yan stated that self-custody is especially important when an intermediary or custodian encounters problems.
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Jeff Yan said that 24-hour trading remains valuable for trading stocks, commodities, and pre-listing companies that lack quotes during traditional market closures.
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Jeff Yan sees potential for on-chain markets to provide global price discovery for private assets.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Self-custody means that users hold their assets themselves. Jeff Yan's view is that longer trading hours are not the feature of on-chain finance that is hardest for traditional exchanges to replicate; users' control over their assets and the ability to inspect system information on-chain are the more enduring differences. However, he also believes that / trading remains useful when traditional markets are closed and quotations are unavailable.
Why it matters to readers
These views shift the focus of on-chain finance from trading hours to asset custody and system transparency, while also pointing out that on-chain markets may provide global price discovery for private assets.
Beginners can use this to distinguish between two concepts:24-hour trading emphasizes when buying and selling can take place, while self-custody emphasizes who holds the assets. The original text presents Jeff Yan's judgment, not a broadly established and verified conclusion.
Risks and unknowns
The original text is PANews' retelling of a report by The Block; it does not provide the original text or a complete video of Jeff Yan's speech, so the specific context cannot be verified.
Whether self-custody and transparency constitute the long-term core advantages of on-chain finance is Jeff Yan's opinion; the original text does not provide verification data.
Whether on-chain markets can enable global price discovery for private-market assets remains a judgment about future potential; the original text does not specify a particular product, timeline, or implementation plan.
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On-chain finance
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