Overview
- Hyperliquid switched on HIP-3 at 09:15 UTC on October 13, formally allowing qualified builders to deploy perpetual markets on HyperCore after staking 500,000 HYPE.
- Deployers must supply their own liquidity, oracles and front ends, and they can receive up to 50% of trading fees from the markets they launch.
- HIP-3 integrates with HyperEVM and enforces risk controls, including validator-approved slashing of a deployer’s stake for violations and caps on open interest.
- HYPE rose roughly 12–13% into the low $40s following activation, recovering from lows near $20 after a broader liquidation wave reported at about $19.3 billion, including an estimated $10 billion on Hyperliquid.
- Early activity includes third‑party perp venues going live, with coverage citing launches such as Trade XYZ for stocks and Ventuals for pre‑IPO markets.