Hyperliquid Activates HIP-3, Enabling Decentralized Futures Market Listings
Hyperliquid has launched HIP-3, a permissionless upgrade designed to decentralize futures market operations. The move follows recent market turbulence that exposed vulnerabilities in centralized exchange models. By allowing third-party developers to create perpetual DEXs on its network, Hyperliquid shifts control toward on-chain governance.
The framework mandates builders to stake 500,000 HYPE tokens (approximately $21 million) as collateral, eliminating centralized oversight. CEO Jeff Yan positions this as a response to systemic risks revealed during recent liquidation crises. While the mechanism promises greater transparency, its resilience during extreme volatility remains untested.