Odaily Planet Daily News: Hyperliquid co-founder Jeff Yan stated that the latest paper by Davide Barone and Fabrizio Lillo investigates the execution performance of TWAP trading visible on-chain for Hyperliquid. The data shows that once on-chain TWAP orders are made public, market liquidity actually tightens, thereby improving the average execution performance of TWAP orders.
Jeff Yan said that he has long believed that for non-toxic order flow, transparent trading can improve execution efficiency, and this study provides data support for that view. He believes that, compared with traditional private trading venues, transparency and fair access can lead to more efficient trade execution.
Jeff Yan said that he has long believed that for non-toxic order flow, transparent trading can improve execution efficiency, and this study provides data support for that view. He believes that, compared with traditional private trading venues, transparency and fair access can lead to more efficient trade execution.