Hyperliquid Starts DC Policy Center Backed by $28 Million in HYPE Tokens
Hyperliquid (HYPE) announced on Wednesday that its Foundation will support the creation of the Hyperliquid Policy Center (HPC), a new organization in Washington, DC designed to advocate for clear rules governing decentralized finance (DeFi).
Jake Chervinsky Leads the Center for Hyperliquid Policy
I new institution will be led by Jake Chervinsky, who previously held senior roles at the Blockchain Association, one of the industry’s leading trade groups, and at venture capital firm Variant.
As HPC’s chief executive officer, he is expected to lead efforts to engage with lawmakers and regulators at a time when digital asset policy is moving away from previous barriers that hindered the sector’s growth in the United States.
With comments in Fortune, Chervinsky said The United States is in a key position in determining how decentralized currencies should be integrated into the country’s financial framework.
The center’s mission will be to help members of Congress and government agencies better understand how DeFi protocols work and to provide technical expertise as regulators can handle the technology, the official said.
He emphasized that most of today’s money control system it was designed for an earlier, analog era. In his view, those frameworks are not well-suited to decentralized agreements, which allow users to trade digital assets on automated platforms that operate without central intermediaries.
HPC Backs Perpetual Framework
Among the agency’s priorities will be establishing a legal framework for permanent derivatives, commonly referred to as “perps.” These tools, which have no expiration dates, are sold overseas crypto exchange and is responsible for a significant share of the global digital asset activity.
Chervinsky argues that perpetuities offer advantages over traditional options and futures contracts because they are simple and provide direct exposure to the underlying asset. Despite their popularity abroad, they have yet to gain a foothold in mainstream US finance, in part due to regulatory uncertainty.
To fund the program, a foundation affiliated with Hyperliquid is donating 1 million HYPE tokens. At current prices of 28.75 per token, that share is worth approximately $28.7 million.
In addition to Jake Chervinsky’s role in the new venture, the founding team includes Policy Advisor Brad Bourque, who previously worked with him at Sullivan & Cromwell LLP, and Policy Director Salah Ghazzal, who previously served as Policy Leader at Variant.
The Hyperliquid Policy Center is also building its leadership bench and is currently hiring for key roles, including a Chief of Staff, Chief of Communications, and Chief of Government Relations.
Featured image from OpenArt, chart from TradingView.com
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