Hyperliquid HIP-3 is set to revolutionize the crypto trading landscape by enabling the creation of permissionless perpetual futures markets. This pivotal upgrade is expected to become active today, transforming the way traders interact with decentralized exchanges. The announcement was made by a Hyperliquid administrator in the protocol’s Discord channel, highlighting the significance of this network upgrade planned for October 13.
The integration of Hyperliquid HIP-3 will not bring immediate changes for current users. However, it will provide deployers who meet specific on-chain requirements with the ability to launch perpetual futures markets (perps) once they are prepared. This marks a significant milestone in the journey towards fully decentralizing the perpetual listing process.
Understanding the Hyperliquid HIP-3 Upgrade
According to a document previously released by the project, Hyperliquid HIP-3 supports builder-deployed perpetuals. This development is crucial for achieving a decentralized architecture, where deployers can independently create and manage a perp decentralized exchange (DEX) on HyperCore. To facilitate this process, deployers must stake 500,000 HYPE tokens.
In addition to decentralization, the upgrade introduces essential safeguards. Features such as validator slashing and open interest caps have been integrated with HyperEVM for smart contracts and governance, ensuring a secure trading environment. These measures are designed to maintain stability and confidence in the system.
Market Impact of Hyperliquid HIP-3
The anticipation surrounding the Hyperliquid HIP-3 upgrade has positively influenced the market. The price of HYPE, the native token, surged by 11% over the past 24 hours, reaching approximately $42. This price increase reflects growing investor confidence and market capitalization, which currently stands around $11.4 billion.
Such advancements underscore the potential of Hyperliquid HIP-3 to reshape the landscape of perpetual futures markets. By enabling permissionless market creation, the upgrade fosters innovation and competition, paving the way for more robust and diverse trading platforms.
Disclaimer: The Block, an independent media outlet, provides this information for educational purposes only. It should not be considered legal, tax, investment, financial, or other professional advice. As of November 2023, Foresight Ventures is a majority investor in The Block. The Block remains committed to delivering unbiased, impactful crypto industry news.
