Hyperliquid Unveils HIP-3 for Open Perp Market Creation

Hyperliquid (HYPE) has launched HIP-3, a major upgrade designed to change how new perpetual markets are created on-chain. The feature introduces permissionless deployment of perpetual futures DEXs on Hyperliquid blockchain. It also sharply reduces taker fees, allowing new markets to begin trading at up to 90% below the protocol’s standard rates. Under HIP-3, deployers must stake 500,000 HYPE to launch a single perp DEX, though the requirement is expected to decline as the network develops.  Each DEX operates independently with its own margining, order books, and settings, and future upgrades may allow multiple DEXs under one stake. The first

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