Company Background - Hyperliquid's founder, Jeff Yan, participated in Binance Labs' Investment Incubation Program in 2018 [1] - Jeff Yan attempted to build Deaux, a decentralized prediction market product, during the Binance Labs program [1] Product Development & Strategy - Deaux aimed to enable people to bet together in an international liquidity pool by leveraging cryptocurrency [1] - Deaux emphasized user experience and explored the advantages of decentralization [1] - Deaux pursued a centralized exchange experience similar to Binance, featuring low fees and real-time feedback [1] - Deaux aimed to ensure security by having funds deposited into blockchain smart contracts and using decentralized democratic voting for settlement [1] - The product aimed to combine the advantages of both centralized and decentralized systems [1]