On October 13, the decentralized trading platform Hyperliquid (HYPE) announced that it will deploy an important network upgrade called HIP-3 (Hyperliquid Improvement Proposal 3). This is XEM a major milestone in the process of completely decentralizing the listing process of perpetual futures markets - one of the prominent trends in the current decentralized finance (DeFi) world.
According to information Chia on the project's official Discord channel, the Hyperliquid team confirmed that HIP-3 will be activated during today's network upgrade. While the update won't impact users immediately, developers who meet the on-chain requirements will be able to deploy new perpetual contract markets on the platform as soon as they are ready.
A Hyperliquid admin said:
“HIP-3 will be activated in this network upgrade. Existing users do not need to make any changes. Qualified on-chain developers can begin deploying perpetual contracts for trading when ready.”
HIP-3 – a big step towards liberalizing DeFi
Previously, in the technical paper published, Hyperliquid said that HIP-3 is a groundbreaking innovation that allows the community to freely create and list perpetual Derivative markets without permission. Specifically, anyone who meets the necessary conditions can deploy a perpetual contract exchange (perp DEX) on HyperCore by staking 500,000 HYPE Token.
This mechanism is deeply integrated with HyperEVM – Hyperliquid’s smart contract and governance environment – allowing for complex features like decentralized governance, validator security, and open interest limits to prevent market risk.
According to DeFi experts, the implementation of HIP-3 not only brings Hyperliquid closer to a fully decentralized exchange model, but also opens up opportunities for independent developers to build separate Derivative products — similar to how projects like Uniswap or DYDX started.
