⚡ HYPERLIQUID WANTS RULES FOR STOCK PERPS 💀
Hyperliquid Policy Center and tradeXYZ have just proposed that the SEC develop its own framework for IPOPs, i.e., perpetual contracts linked to stocks, before these products are expanded.
Key points:
→ Proposal for 5 pillars of IPOP regulation
→ Product disclosure
→ Listing requirements
→ Investor access
→ Market integrity
→ Funding, leverage, liquidation & pricing must be disclosed
→ Oracle & settlement procedures must be clear
→ Proposal to roll out in phases before expanding to retail
→ tradeXYZ has operated 5 IPOP markets including SpaceX, Cerebras, Quantinuum, SK Hynix, and ChangXin
The most interesting part to me is that Hyperliquid not only wants to bring stock perps on-chain, but is actively proposing how they should be regulated.
Especially after the SK Hynix case—when pricing/oracles issues caused the mark price to drop by about 18% and led to liquidation—clear risk controls have become even more important.
Hyperliquid: “Let’s build stock perps.”
SEC: “Let’s see the rulebook first.” 💀
If this framework is accepted, will stock perps truly become a bridge between TradFi and DeFi?
#Hyperliquid #SEC
Hyperliquid Policy Center and tradeXYZ have just proposed that the SEC develop its own framework for IPOPs, i.e., perpetual contracts linked to stocks, before these products are expanded.
Key points:
→ Proposal for 5 pillars of IPOP regulation
→ Product disclosure
→ Listing requirements
→ Investor access
→ Market integrity
→ Funding, leverage, liquidation & pricing must be disclosed
→ Oracle & settlement procedures must be clear
→ Proposal to roll out in phases before expanding to retail
→ tradeXYZ has operated 5 IPOP markets including SpaceX, Cerebras, Quantinuum, SK Hynix, and ChangXin
The most interesting part to me is that Hyperliquid not only wants to bring stock perps on-chain, but is actively proposing how they should be regulated.
Especially after the SK Hynix case—when pricing/oracles issues caused the mark price to drop by about 18% and led to liquidation—clear risk controls have become even more important.
Hyperliquid: “Let’s build stock perps.”
SEC: “Let’s see the rulebook first.” 💀
If this framework is accepted, will stock perps truly become a bridge between TradFi and DeFi?
#Hyperliquid #SEC