Hyperliquid, a fast-growing decentralized perpetuals exchange, is officially rolling out HIP-3, a major protocol upgrade set to go live today, October 13, during a scheduled network upgrade. This release represents a foundational shift in how perpetual futures markets are created and launched within the Hyperliquid ecosystem.
Once active, HIP-3 will allow any onchain participant who meets specific requirements to deploy their own perpetual markets without needing centralized approval—marking a significant step toward full decentralization.
HIP-3: Opening the Door to Permissionless Perpetual Listings
At the core of HIP-3 is the ability for anyone to permissionlessly create new perpetual futures markets on HyperCore, the protocol’s execution layer. By staking 500,000 HYPE, deployers unlock the ability to list custom markets directly, enabling faster innovation and greater diversity in tradable assets.
This upgrade eliminates the bottleneck of centralized listings and empowers developers, DAOs, and other ecosystem participants to launch markets aligned with their specific communities or use cases. Whether it’s niche tokens or novel synthetic assets, HIP-3 gives builders full control over market deployment.
It also aligns with Hyperliquid’s broader mission to decentralize every layer of its trading infrastructure—from governance to execution—while maintaining security and capital efficiency.
Smart Contract Integration, Governance, and Security Enhancements
Beyond market creation, HIP-3 introduces several protocol-level improvements designed to strengthen both functionality and trust across the platform.
The upgrade integrates Hyperliquid more deeply with HyperEVM, its smart contract layer, enabling seamless interaction with DeFi tools, onchain governance, and future modular upgrades.
Security is also a core focus of HIP-3, introducing two key mechanisms:
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Validator Slashing: Misbehaving or underperforming validators can now be penalized through slashing, enhancing network integrity and accountability.
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Open Interest Limits: These ensure healthy risk management by capping exposure per market, especially important in newly launched or low-liquidity environments.
Together, these features help ensure that as the ecosystem becomes more open, it remains safe and efficient for all users.
A Major Leap Toward Decentralized Derivatives
The activation of HIP-3 marks a turning point for Hyperliquid and the broader perpetuals space. It brings the protocol closer to becoming a fully decentralized platform—where community-led innovation drives growth, and access is no longer gated by centralized processes.
For builders, it unlocks new potential to launch niche or experimental perp markets quickly. For traders, it means faster access to a wider array of markets, with the transparency and security of onchain infrastructure.
As the upgrade goes live today, the DeFi community is watching closely. HIP-3 not only strengthens Hyperliquid’s technical foundation but also reinforces its position as a serious contender in the future of decentralized derivatives trading.
