Brrnaby

@TheCryptoNexus seems like an ace up the sleeve that could happen along with kyc for example

I lean back and forth on it tbh From business strategy POV I don’t think it makes a ton of sense while in such a commanding lead. Playing that card once either completely removes it from play forever, or reduces its future effect significantly. But also team has always been very intentional about rewarding the community that helped grow HL to what it is now, and also very serious about progressively increasing the decentralization of the network so ya idk 🤷‍♂️

@Ramen_HL and if needed, jeff can pull out points season 3 as kyc is introduced.

Within the next 12-18 months we will have US regulators require US users to KYC for access to HL I don’t think that the KYC process will be facilitated by HLdotxyz but through another front end $HYPE will probably dump on the news and I’ll throw my whole liquid networth into $HYPE at that point Legal access to US users will immediately put HL on par with Robinhood and Coinbase and violently reprice to $50-$100b

@sayinshallah if hyperliquid is forced to kyc they pull out points season 3 and everyone is happy

@Pentosh1 jeff can fire off new points season when introducing kyc. ace up the sleeve. easy mode

Let's say that regulation is imposed on $hype The consensus so far is that it's bearish bc SOME of retail would flee. Only the left tail risk has been largely discussed, but not the right tail. Revenues could even 5-10x. Right now, institutions can't touch Hyperliquid in the US. No KYC means no hedge funds and asset managers. There's compliance around using unregulated offshore derivatives. If we get a compliant path in the US which is likely. Then sure, you might lose some small retail traders, but you're going to end up with billions more from institutions, hedge funds, prop desks, asset managers on chain. Hedging exposure, putting on delta neutral trades, 24/7 trading etc. Lower fees than CME. I think the bull case, is bigger than the bear case with regulation. Jeff is already working on this, there is no doubt about that.

@degennQuant And the ace up the sleeve if they end up introducing kyc is ofc a new points season.

Regulation will 100X $HYPE and get it adopted on every trading desk globally

@sayinshallah They turn on a new points season, that’s all

What happens to hyperliquid when they eventually ask for kyc?

@tomthomas90 New points season starts with kyc , should help many reticent users

Option one - I think we end up in a world where a subsidiary layer of HL provides KYC services for those that want and are able to operate across US. HL continues to exist with no KYC option but geographic restrictions. Option Two - HL KYC becomes mandatory and in turn it can operate anywhere. Subsidiary uses tech to also provide no-KYC option to users that want it.

@BardyGG @jords 43% community allo could come in handy at that point t

Brother I am as chill as a cucumber, I just do not mince words As long as you’re aware of the risks, it’s all love, no hate I saw firsthand what happened to bitmex, was my favorite spot to trade before KYC armageddon, now it’s a shell of its former glory HL can still be successful afterwards, but IMO KYC is inevitable

This is just the modern day version of “steady lads” IMO They are gonna be forced to KYC and 80% of volume is gonna flee to the next unregulated derivatives exchange. Every cycle in crypto had one, HL is just the latest. Bitmex, FTX, Binance, Bybit, the list goes on, all got KYC