Trade the World on Hudi: The Consumerization of Global Markets

I know you guys have been building really hard. I love your product. So I'm really excited to talk to you and see you in Singapore in a couple of weeks time. And I get to meet in person. But here we go people, this is the hoodie team. My name is Marty Party, doing the space together with Sui. Hoodie is a new global market platform, perpetual platform built on Sui, on the Sui blockchain, in the most perfect time in history. In my opinion, global markets will be facilitated by a blockchain, by a public blockchain. And we're going to see one single global market and anyone in the world will be able to try any assets, anything, any commodity on public blockchain. I think it's a major use case of the chains. And you hear some of the leaders in the space, Hoodie. So Kai and Lerine, you guys want to just take it away. Introduce yourselves. Let everyone know. I know you have a storied history in Korea in technology. And I'd love to hear that myself personally. So take it away. Tell us a little bit about Hoodie, your journey. How you found Sui, was Sui is the one for you, and your vision for the future. Go ahead, sir. Yeah, absolutely. And thanks again, Marty, for having us. No problem. Always, always great to have, you know, being company with one of the most coded trading personalities in the world. So, and great to share a product that you're very excited about and hopefully one that, you know, you would use every day. So, you know, let's start with that kind of Hoodie in the story and why we're here. And, you know, Hoodie is a trading venue for Perps. And specifically, Perps on global equities, starting with Korea, Japan, and Hong Kong markets. And the reason why Hoodie exists is that, you know, with the AI trade, with kind of many of the existing and very powerful narratives in public markets right now, market attention has turned global, but access to market attention has not. And the vision for Hoodie is that when a company or sector becomes globally relevant, traders should expect to find a market for a Hoodie. And we become the discovery layer and execution layer for these markets. And as for me personally, I've been building consumer products used by millions of people. I found it, previously I found it, a company called Parasol, which folks some bringing Japanese and Asian IPs to the blockchain. This was eventually acquired by Mistin and we've been incubating DeFi products there for quite some time now. And Hoodie is our latest project. Across the team, we have experience in sweet infrastructure, consumer products, financial systems, and crypto market structure, including Lyrin. And I'll let Lyrin give his intro. Terrific, thank you, Lyrin, go ahead. Awesome, yeah, thank you. Thank you for having me. Nice to meet you, Jerry. And so we, great to be here. Yeah, so similar kind of background was in big tech for a while, but I think I was a bit earlier in crypto since around 2015. Always been fascinated with, you know, democratizing finance has always been, you know, a bit of a deach in myself. Did a bunch of crypto startups, lots of failures, lots of lessons, lots of learnings, lots of, you know, crazy trades that have, you know, turned us into, you know, out of retirement and then, you know, back into the trenches because we all have these, you know, gambling addictions. But, you know, I got into Hoody, you know, with Kai, because we kind of shared this like interest in terms of how we can consumerize these global markets. I think we are all seeing this trend where, like, you know, meme coins, they're kind of becoming more utility focused and then, like, stock assets are kind of becoming more mimetic. And while all this is happening, you know, social trading is becoming like the most powerful distribution funnel for, you know, retail audiences to like speculate and now so make friends in the process. And so like right now is like the ultimate time and sui is like the ultimate venue to do all of this. And so we're really just trying to bring this dream alive, starting with global equities and expanding into a lot more than that. But really excited to be here and very excited for, you know, base camp where we're going to meet all of you guys, especially you Marty. Yeah, interesting how we always, for years, have been saying that crypto is the first global commodity, the first asset that could integrate the world. And we've seen it how socially through the trading, through the trenches, you know, through the narrative. And now finally through Bitcoin, with all of the ETFs going global, we actually seeing it happen. The manifestation is real. I think this is the first opportunity ever for, you know, the technologists to finally deliver something where the world can communicate, message and, you know, financially succeed together as one, which I think like changes everything. And also, it's really interesting because it sits on that backdrop of global reserve currency, you know, global trade reorganization, you know, the whole world on the macro level as we see it right now. And I think that crypto is the perfect time. It's coming at the perfect time, which if you ask me is no coincidence. I believe that it's been, you know, created for this role to create a global market. That's why I'm so excited about what you guys are doing. I wanted to ask you a quick question. What does Hoody mean? So, Hoody is, well, first, Hoody is the name of our mascot. And you may have seen this little guy floating around in our marking material in TikTok videos and kind of various content that we've been putting out. It's a character that's been invented by our very talented creative direction team. And we may be the only team in crypto with this creative direction function. And we do believe we built the most unique brand in crypto. Hoody is a kind of a degenerate salary man. I think he might live in Tokyo like I do. And the clock's in the clock's out. It's a raging alcoholic and and then at nighttime when the markets are closed, he trades on the Hoody platform because we're open 24 seven. And Hoody is the Chinese, that the kind of lore behind it is, Hoody is a Chinese name for Alakazam, the Pokemon, which we're also very, very big fans of. And because Alakazam is a psychic Pokemon, he can predict the future and also figure out where the markets are going. Terrific. Maybe we want to segue quickly into the product itself and talk about a little bit. I know we're in alpha. Maybe you want to explain to the audience what that means. And the timing around the move from alpha to beta and to public around base camp, et cetera. And then also talk a little bit about why is there no global asset market right now? What has been the blocker? What has been the reason that there hasn't, I mean, I know that there have been certain times in history where it's approached a global market closer than it is now. And in fact, I believe it's moved further away in the last decades. But what is the blocker? Why is there no one global equity market? So maybe you want to talk about those two things. Tell us about the product, the timing, the alpha. And then let's talk a little bit bigger picture about global asset markets and how we get there. Absolutely. Lauren, do you want to take the first part of the question? And now I'll take the second. Yeah, absolutely. So we're trying to approach sort of distribution in a very face-to-proach. Like there's sort of two layers to our whole product. The main selling point is going to be our social trading experience, which by the way, we're going to be debuting during base camp. So make sure you tune in. It's going to be streamed. One of our competitions is going to be streamed there. But behind the social trading experience, we've actually built our own custom Perp Dex. That's running all this obviously with the help of Sway, which makes this technology possible. And so right now, we're running an alpha where we're really trying to get users to test the underlying engine. And so if you go on hoody.com, you can register for a way list. Select participants, get codes based off of participation, and sort of like building with the community and networking. And we're going to be giving out a lot of codes, by the way, at base camp as well. But with that code, you get access to our actual trading engine, where you can test paper trading select equities that we have whey listed for this campaign. And then what's going to basically happen is live trading is likely going to be happening. We're not going to unveil the exact date, but it's likely going to be late October. And once that happens, we're going to allow people to trade with actual money. And that's also going to be where everything is going to be available on iOS. But throughout this process, we're still going to keep it co-dated. And we're doing this on purpose because we believe in the effects of a scarcity-based distribution design. So what you can expect is get on the way list as soon as possible and put on your calendars the dates of late October, where we're going to be unveiling everything for live trading. And that is going to mark the beginning of our official season one campaign. And during the season one campaign, we're going to be offering a bunch of different incentives. We can't talk about it too much, but there will be likely some points. There may be certain cashback programs. And beyond that, you're going to be able to experience the social trading feature, which also has its own pre-baked incentives. So we got a bunch of goodies coming out. And so after season one, we're going to be calling that our public beta. It's probably going to last a couple of months. But this is what you should be focusing on for now. I'll leave it to you, Kai, on the other part of the question. Yeah, that's fantastic. Yeah, go ahead, Kai. Yeah, I wanted to add three things. Is the social trading is going to be a very, very exciting product. It's one of the coolest things I've built in my career. And you guys may be already on pump and FOMO. And we really love that there are really great competitors in this space. But you guys may also have noticed that there's a lot of frustration with these social trading apps, and that's copy trading from KOLs. And one of the kind of fundamental problems that we're trying to solve with the Hoody Mobile app is solving the fact that there's a lot of pump and dump schemes. And people are very frustrated with that. And these social trading apps don't tell you, they only tell you who is in this trade, so you should copy them, but they don't tell you why you should be in this trade. And because we're trading various, very serious assets, we also want to provide the most expansive and user-friendly social discovery layer. So you can actually really get educated about global markets and become a very proficient trader like Marty here. The second thing is, since one month ago, we've rolled out what we call the Community Listings Program. And this is kind of where you don't have to be in the private alpha to participate, just as long as you sign up through the Hoody website. You can actually vote on which tickers will become listed next. And so far, we've listed Hyundai Electric, which is a very prominent player in the data center and electricity infrastructure build out. And there's going to be more to come. So every two weeks, we're going to launch a new ticker. And the intention behind this is we really want to be building this with the community and kind of really listening to and meet the traders where they're at. And this is also kind of hinting at a very exciting feature that we call TAKES, which is a way for creators on our platform to basically write their thesis on why a stock is should be traded and have their followers follow them. Again, why you should be in a trade, not just who is in the trade. And then the third kind of with base camp is we're rolling out our new V2 trading engine, which is 10 times faster on fills with over 200 tickers available to trade on day one. So excited to kind of tease that and more to come there. We'll be just a quick quick technical question just from the nodes over here. So technically, what is your back end? Are you guys using deep book? How are you integrated with Sui? What is the relationship at the code level? And you guys are doing perps to start, right? Is there a plan to do non synthetic ownership? Or is it always going to be synthetic? What is your feeling about that? Those kind of questions. Could you answer some of those? Yeah, for sure. So yeah, so we heavily leverage sweet infrastructure in a couple of ways. So the first is we use Nautilus to provide kind of transparent computation on the price speeds that our own research team is publishing.