a16z: Blockchain Enables New Markets with On-Chain Perpetual Futures as a Key Driver

a16z researcher Robbie Peterson stated that blockchain technology allows market supply to scale with global demand by removing traditional barriers like listing committees and geographic fragmentation. Innovations such as on-chain prediction markets, P2P lending, and perpetual futures represent the permissionless creation of new risk units. Citing Hyperliquid, where RWA perpetual futures reached an annualized trading volume of $1.4 trillion by July 2026, Peterson noted that on-chain markets can address any risk exposure, including computing power, macro indicators, and real-world assets.