OKX CEO Star has highlighted the success of on-chain contracts, citing Hyperliquid as an example of achieving significant success even with a small team. Star noted that competitors like Aster are also entering this space. OKX Web3 has tested similar products since 2023 but has not launched them on the mainnet due to regulatory concerns. Star emphasized the importance of not overlooking the regulatory environment, referencing the 2023 CFTC enforcement action against Deridex. He pointed out that the regulatory landscape has fundamentally changed, and the industry urgently needs clear rules.