Svmuu News Hyperliquid founder Jeff Yan and his team members recently gave an exclusive feature interview to Colossos magazine.
In the interview, Jeff revealed that after leaving the quantitative trading giant Hudson River Trading in April 2018, he began building a prediction market-like project called Deaux, which allowed users to place bets on any event with an outcome, such as weather, elections, or sports events. Jeff tested a mechanism of "off-chain matching, on-chain settlement" in this project (Jeff believes this was an idea he and co-founder Scott Wu pioneered first), where funds would be stored in smart contracts controlled by code, but the user experience would remain fast and smooth. This approach aimed to preserve the decentralized promise of crypto while avoiding its friction costs.
However, Deaux ultimately had only 100 users and was completely abandoned as the market turned bearish.
For more details, please refer to 「Jeff Yan's "Hyper Life"」.