
Episode #48
Trading Everything on Hyperliquid | Perps.fun Co-Founder Parker
Parker, co-founder of perps.fun, joins the Insilico Terminal Podcast to discuss building the first HIP-3 launchpad and opening Hyperliquid market creation to teams outside the existing deployer structure. We cover why perps.fun pivoted from building a trading terminal, how new markets are vetted, fee sharing and market ownership, exotic and long-tail perps, sourcing liquidity, oracle and funding design, the Kinetiq partnership, and why permissionless perp creation comes with serious risks. We also get into the wider Hyperliquid ecosystem: HIP-3 market concentration, HIP-4, regulation, institutional adoption, Trade XYZ, competition between DEXs, and the long-term vision of being able to trade wherever the volatility goes. 00:00 What is perps.fun? The first HIP-3 launchpad 05:15 What kinds of markets will launch? 10:17 The perps.fun fee-sharing model 15:10 Why official brands and indices matter 19:24 Building safe markets: liquidity, oracles & funding 25:03 The Kinetiq partnership and HIP-3 economics 30:30 Where Hyperliquid stands today 35:32 Regulation, institutions & the “gray market” 39:38 Hyperliquid vs other DEXs & trading everything






