Overview
- Hyperliquid released HIP-3* on its testnet as an optional upgrade that lets independent deployers add on-chain allowlists to run permissioned perpetual-futures markets.
- The feature is strictly additive and does not change existing HIP-3 markets unless a deployer chooses to activate an allowlist.
- Under the design, deployers or appointed sub-deployers will manage participant lists while keeping responsibility for oracles, leverage limits, fees, settlement and market operations.
- Hyperliquid says the HIP-3* specifications are preliminary and may change after developer feedback, with no mainnet date announced.
- Separate discussions that could route selected Hyperliquid-linked contracts to U.S. traders through Payward/Bitnomial have been presented to the CFTC but would require regulatory approval, and technical allowlists alone do not satisfy U.S. registration or surveillance rules.