Over founder Lili on how the Hyperliquid model could make trading sustainable: let traders own the house.
8bit: "If so many people are losing, how sustainable is the industry? Maybe we can look at trading somewhat as like an entertainment thing, like we pay for the experience."
Lili: "The entertainment angle is real. You can see from GameStop, for example, WallStreetBets. Also in crypto, like meme coin. If you like doing something fun once in a while, you lose a bit, it's also fine."
"However, for the bigger, more serious size, I do think that it needs a substance underneath. This is what the stock market already did. The money that is go inside the stock trading is actually funding the real business and services."
"So now it's not just like 1 + 1 equal 2, but it's equal 3. The best thing that we could do is that we let traders own the house. This you can already see, more or less, on Hyperliquid."
"The latest number is that all their revenue, maybe 97%, going to buy back. People sort of own the revenue. I think this model works very well, and this could make it like truly a sustainable ecosystem going forward."
FT
@lililashka @overdotcomputer
Ownership Podcast S2 E3: Lili (
@overdotcomputer)
"Letting traders own the house."
00:00 Intro
00:55
@lililashka's background: cybersecurity law, data pipelines and DeFi
01:27 Why prop firms want traders to fail
02:25 What a prop firm is and how Over is different
04:14 Who trades on prop firms: retail, pros or both
05:52 A multi-billion-dollar industry and where payouts come from
07:45 Why 70% of traders lose and the market still wins
09:53 The next 1,000x: incentive design, not leverage
10:53 Trading as entertainment and what makes it sustainable
13:47 Letting traders own the house
14:44 Getting started and the prop funding rate
17:03 Tokenised stocks, crypto and prediction markets
18:48 Prediction Index and the war and peace index
20:40 Missions and why Over is a launchpad, not a house
23:48 OIP-1: third-party hosts for trading missions
25:33 Why Solana first
26:24 Why MetaDAO and futarchy
32:01 The biggest risk: agentic trading
34:28 Incentive alignment and closing thoughts
This show is sponsored by
@MetaDAOProject.
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