Particle.news
Download on the App Store
8 ARTICLES
·
2h ago

Hyperliquid Activates HIP-3, Opening Permissionless Perp Markets With 500,000 HYPE Stake

The protocol shifts listings to a fee-sharing, slashable model designed to challenge opaque CEX processes.

Hyperliquid’s hip 3 upgrade to unlock permissionless perp market creation
Image

Overview

  • HIP-3 went live at 9:15 UTC after a Discord announcement, enabling qualified deployers to launch permissionless perp DEXs on HyperCore once they meet on-chain requirements and provide liquidity, oracles, and front-end interfaces.
  • Deployers must stake 500,000 HYPE and can receive up to 50% of trading fees from their markets, with validator slashing and open interest caps enforcing market integrity.
  • The upgrade integrates with HyperEVM for smart contracts and governance, reframing Hyperliquid as a transparent, fully on-chain alternative to centralized exchange listings.
  • HYPE climbed roughly 12–13% to about $41–42 today following the activation, according to market data cited in multiple reports.
  • The rollout follows a reported $19.3 billion leverage flush that included over $10 billion in liquidations on Hyperliquid, as the project underscores public on-chain liquidation data versus limited CEX feeds.