Last year, when @ zkwifsats started building in the Hyperliquid ecosystem, I was very interested and even recorded a podcast together. Later, the project went through a pivot until the current OpenETF was launched, which is impressive OpenETF is building a new type of marketplace, which is an imaginative and exciting direction. I think there are several innovative points 1/It lowers the issuance threshold for on chain ETF funds Traders/KOLs do not need to study issues such as smart contracts, fund custody, share accounting, redemption systems, etc. They can directly issue an ETF fund based on OpenETF. Just like Pumpfun did to the meme coin industry, it greatly reduces the threshold for issuing assets In this way, the trading capabilities of traders/KOLs can be further productized, with the hope of launching some small, specialized, and themed on chain funds; Not to mention institutions, they already have the ability and experience to issue ETF funds and can also migrate over 2/Convert Hyperliquid's trading liquidity into asset management products Hyperliquid already has various assets such as perpetual contracts, spot, HIP-3 markets (stocks/commodities), etc. OpenETF directly utilizes these trading infrastructure, without the need to build an exchange from scratch, allowing traders to showcase their skills and develop portfolio strategies based on the existing market, with great flexibility and much lower start-up thresholds 3/ ETF as a Product OpenETF can build a public, on chain brand profile page for each ETF fund and manager, which is equivalent to moving the recruitment prospectus, net asset value disclosure, and fund manager performance records of traditional funds onto the chain For ETF issuers, OpenETF is the Shopify of on chain asset management For C-end investors, OpenETF is an online currency circle version of Alipay Fund As a marketplace, the core of the startup phase is to first focus on supply, that is, excellent ETF issuers/managers. Excellent KOLs and community managers on CT can contact @ zkwifsats and join the OpenETF platform to make things happen together Several indicators to measure the health of the OpenETF platform, including real AUM, entry and retention of excellent fund managers, and actual liquidity of fund shares in AMM The story at the beginning of Zk's article takes my thoughts back to the bicycle war in 2017. At that time, my company was recruiting for both Mobike and ofo. Mobike's product VP was an old friend and the collaboration was very smooth. That year, Mobike paid us over 1.2 million RMB for recruitment expenses, while the ofo team only hired a few people. At that time, I didn't know Zk yet and mainly communicated with HRD and Dai Wei. In the end, Mobike sold to Meituan Meili and withdrew. Ofo's funding chain had problems, and they still owe me 64800 RMB in recruitment service fees. This is the only debt that I have confiscated after working as a recruitment company for 4 years. Later, I met Zk in the cryptocurrency circle and told him this story, smiling at each other Last year when ZK started its business, it opened up financing to friends, and I also invested a little money to become a small shareholder. The good fortune continued here