Jeff Yan — IQ.wiki Profile

Source: IQ.wiki (https://iq.wiki/wiki/jeff-yan) Type: Wiki biography with citations from multiple interviews and articles Coverage: Jeff Yan’s education, career, founding of Hyperliquid, philosophy, personal life

Summary

Comprehensive biographical profile of Jeff Yan, the founder of Hyperliquid. Covers his path from physics/math olympiad competitor → Harvard → HRT → crypto market making (Chameleon Trading) → founding Hyperliquid. Rich in quotes from multiple interviews (WuBlockchain, When Shift Happens, 0xResearch).

Key Claims

Growth Metrics (new data not in official docs)

  • 570,000+ users, 200,000+ daily active users (by late 2025)
  • $308B monthly volume (October 2025)
  • 70% of all perp DEX trading volume (July 2025)
  • >10% of the global perpetual futures market (July 2025)

HYPE Token Allocation

  • Users: 31%
  • Community rewards: 38.88%
  • Core contributors: 23.8%
  • Foundation: 6%
  • Other grants: remainder
  • Launched November 2024

Timeline

  • Feb 2023: Hyperliquid founded
  • Nov 2024: HYPE token launch, 31% airdrop to users
  • Feb 19, 2025: HyperEVM launched
  • July 2025: Phantom Wallet “Phantom Perps” integration
  • Nov 2025: HIP-3 launched
  • July 2025: Sonnet BioTherapeutics forms $888M HYPE holding entity

Ecosystem Scale

  • Felix Protocol: >$400M in assets
  • HyperLend: $380M in assets
  • Builder code revenue: >$65M

Business Decisions

  • Early 2024: Yan turned down VC offer valuing project at $1 billion
  • HYPE not listed on CEXs by choice — “laser focus” on core development
  • No private arrangements with market makers
  • All protocol fees go to LPs and insurance funds, zero to team
  • Oct 2025: Liquidation system criticism — platform maintained 100% uptime, zero bad debt

Key Quotes

“If Bitcoin had taken a VC round, I really don’t think it would be Bitcoin.”