Hyperliquid, a platform that is gaining popularity in the cryptocurrency ecosystem, plans to activate the HIP-3 protocol update today. This significant change will enable permissionless creation of perpetual futures markets, which is another step towards decentralization of the platform.
Hyperliquid’s administrator announced on the protocol’s Discord channel that a network update scheduled for October 13 will introduce HIP-3. HIP-3 will be activated during this network update. For users, this does not mean immediate changes. Developers meeting the on-chain requirements will be able to deploy perpetual contracts for trading when they are ready,” the administrator said.
According to the previously published document, HIP-3 (Hyperliquid Improvement Proposal 3) will enable developers to implement perpetual contracts, which is described as “a key milestone towards full decentralization of the perpetual contract listing process.” With HIP-3, developers will be able to run a decentralized perpetual contract exchange (perp DEX) on HyperCore by staking 500,000 HYPE as collateral. The update integrates with HyperEVM to support smart contracts and governance, and introduces security mechanisms such as validator slashing and open interest caps.
Impact on the market and price of HYPE
The price of the HYPE token has increased by 11% in the last 24 hours, reaching a value of approximately USD 42. Hyperliquid’s market capitalization is currently approximately $11.4 billion, demonstrating growing investor confidence in the project and its development. Aster has taken part of Liquidity in recent weeks, but Hyperliquid is working hard to develop the project. The times of DeFi and DEX trading are changing, and the race to deliver the best tools continues. This sector is worth watching.
The importance of HIP-3 for the ecosystem is enormous. The introduction of HIP-3 is an important step towards increasing the availability and decentralization of the Hyperliquid platform. The ability to create perpetual contract marketplaces without permission opens the door to more innovators and developers looking to build on this platform while ensuring security through built-in controls. This move could strengthen Hyperliquid’s position as a leader in the decentralized finance (DeFi) sector.
Summary
The activation of HIP-3 is a breakthrough moment for Hyperliquid, which not only increases the functionality of the platform, but also strengthens its position in the crypto ecosystem. With HYPE increasing in price and community interest, Hyperliquid continues its mission to create a fully decentralized environment for perpetual contract trading. I started using this platform myself and I believe that everything is developing in the right direction, giving us more and more opportunities on the market.
