Hyperliquid Launches HIP-3 Upgrade, Enabling Permissionless Perpetual Markets

Hyperliquid has activated its major protocol upgrade, HIP-3, which opens the door to permissionless perpetual futures markets. This exciting development went live on October 13, 2025, enabling builders to create custom DEXs for real-world assets using up to $1 million in HYPE tokens. HIP-3 offers extensive control over market creation and operational elements including oracles, fees, collateral, leverage, and more.