There’s a new heavyweight fighting for the future of decentralized finance on Capitol Hill.
1/ I am proud to announce the launch of Hyperliquid Policy Center, where I will serve as CEO.
HPC is an independent research and advocacy organization dedicated to ensuring that DeFi can flourish in the United States.
Chervinsky previously served as chief legal officer at venture capital firm Variant, which has invested in DeFi staples like Uniswap and Morpho. Prior to that, Chervinsky worked at the Blockchain Association, a nonprofit trade association based in Washington, D.C.
The development underscores how Hyperliquid has evolved since the decentralized exchange specializing in perpetual futures debuted three years ago. Although the project was once viewed as a scrappy contender in the DeFi space built around a tight-knit community, some members are setting their sights on policy discussions among the country’s political elite.
Yan acknowledged that the organization’s debut comes at a critical time, with a market structure bill stalled in the Senate that has the potential to establish new rules for DeFi.
The HPC doesn’t bill itself as just another crypto lobby like the Blockchain Association, Coin Center, or the Chamber of Digital Commerce, which was established in 2014
HPC’s mandate is specifically focused on advancing “decentralized market infrastructure,” with an emphasis on perps—where the Hyperliquid blockchain has built its dominant market share.
Unlike traditional futures, perps don’t have an expiration date, allowing a trader to hold positions indefinitely. They use periodic payments between long and short traders to keep the derivative’s price pegged to an asset’s spot price, also known as a funding rate.
“If there’s demand for these products, it's definitely something that we'll consider,” Selig said. “It’s been too long that this stuff is only developed offshore, and we really want to bring it back with clear rules of the road.”
