Uneasy Money: How Hyperliquid Succeeded by Going Against Crypto's Ideology First Approach

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 12 March 2026

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The crew digs into Hyperliquid's phenomenal rise. How did the perp DEX become TradFi's 24/7 casino? Thank you to our sponsors! ⁠⁠⁠⁠Fuse: The Energy Network ⁠⁠⁠ – Shift your energy use and earn rewards. ⁠⁠⁠⁠MultiChain Advisors -⁠⁠⁠⁠ The Growth & Capital Markets Partner You Need Hyperliquid is having its mainstream moment like Polymarket in 2024 and OpenSea in 2021. Amid the U.S.’s war on Iran, the platform has become a popular venue for speculators to express their market opinions. Uneasy Money hosts Kain Warwick, Luca Netz and Taylor Monahan dig into choices that have allowed Hyperliquid to succeed where many others before it have failed. In a single sentence: not putting ideology over the product's goals. Kain says the protocol may become unassailable in the future even as Luca says HYPE is bound to be a top five crypto by market cap. The crew also discusses Pudgy Penguin's new open world game Pudgy World. Luca says “crypto rails have to be a tech stack not a hook” explaining why the game relegated crypto to the background. Plus, how Across Protocol's move to pivot to only equity highlights the broken nature of tokens. Has Luca cracked the problem? Listen to find out! Hosts: ⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠, Founder of Infinex and Synthetix ⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠, Security Expert ⁠⁠⁠⁠⁠⁠Luca Netz⁠, CEO of Pudgy Penguins Links: Unchained: ⁠⁠⁠⁠⁠⁠⁠⁠⁠Oil Becomes the Hottest Trade on Hyperliquid Hyperliquid Launches $29 Million Policy Push in Washington Uneasy Money: Hyperliquid’s Dilemma After 10/10: Protect Itself or Its Users? The Aave DAO Is Collapsing. Is the Token Still a Good Investment? Uneasy Money: Why the AI Singularity May Already Be Out of Our Hands Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Could AI help you do more of what you love?
0:03.0	Workday is the next-gen ERP powered by AI that actually knows your business.
0:08.0	We help you handle the have-to-dos so you can focus on the can't-wait-to-dos.
0:13.0	It's a new workday.
0:15.0	Hey everyone, I'm Kane and welcome to Uneasy Money because what happens on-Chane never stays on-chain.
0:20.0	I'm here with my co-host
0:21.4	taylor monahan security expert and luca nets pudgy penguins expert we are going to dive into
0:27.7	everything in a minute but one quick thing before we start nothing you hear on uneasy money is financial
0:33.3	advice we're just three builders talking about what's happening on chain and we want you to always do
0:37.4	your own research before aping it you can find all our disclosures at unchaincrypto.com
0:42.3	slash uneasy money. And before we begin, here is a word from the sponsors that make the show possible.
0:49.1	The Energy Network is an intelligent, decentralized grid that coordinates smart devices to balance supply and
0:56.1	demand. Energy Dollar is the native token of the network from one of Europe's fastest growing
1:01.6	energy startups. Follow at Fuse Energy on X to find out more. Multi-chain Advisors is an emerging
1:09.6	technology growth firm that has helped create
1:12.1	50 plus billion dollars in enterprise value for 80 plus clients over the past four years. They're
1:18.5	the partner to help navigate markets. Build real traction today at multi-chain ADV.com.
1:27.7	All right.
1:28.6	Hey, everyone.
1:29.4	Our first topic this week is hyperliquid is morphing into the world's casino.
1:39.1	They have, I think, had three or four hip upgrades over the last six months maybe that have
1:47.7	been like edging towards this, adding, you know, different asset classes, different things
	...

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