Hyperliquid to Enable Creation of Perpetual Futures Markets

Hyperliquid to activate HIP-3, easing perpetual futures market creation.

On October 13th, the decentralized exchange (DEX) Hyperliquid will activate the HIP-3 update, as announced by the project administrator on Discord.

The upgrade will simplify the creation of perpetual futures markets by removing the need for protocol-level permission.

According to the proposal, any developer will be able to launch a DEX based on HyperCore. To do so, they will need to stake 500,000 HYPE.

The market creator is responsible for its parameters, from contract specifications and oracles to leverage limits and settlement procedures. Developers can set a commission share of up to 50%. For traders, fees will be twice as high as on validator-managed markets, while the protocol’s revenue remains unchanged.

To protect Hyperliquid and its users, HIP-3 includes security mechanisms such as validator slashing and open interest limits.

Initially, several conditions will apply:

• one developer can launch one DEX;
• only isolated margin mode is supported;
• the first three assets can be launched for free, while subsequent ones will require participation in an auction.

The project team described the update as a “key step towards full decentralization of the listing process.”

The price of HYPE responded to the news with an increase. Over the past day, the asset rose by 13.3% to $42, according to CoinGecko. The market capitalization of the asset reached $11.4 billion.

Earlier, on October 8th, the Web3 wallet MetaMask added trading of perpetual contracts via Hyperliquid.