Hyperliquid has launched HIP-3, a protocol that introduces permissionless perpetual markets to its platform. This move is expected to significantly boost the capabilities and accessibility of decentralized finance (DeFi) derivatives. Co-founder Jeff Yan spearheaded this development, aiming to enhance capital efficiency and reliability in global markets. 500,000 HYPE token staking requirement has stimulated demand for the token, leading to a 13.4% surge in its value. This enhancement facilitates on-chain trading of real-world assets like Tesla (TSLA) through specialized oracle infrastructure, expanding trading pairs within the DeFi ecosystem.
HIP-3’s launch marks a significant step forward in DeFi derivatives. The protocol allows builders to utilize Hyperliquid’s on-chain infrastructure for creating these markets, leading to improved price discovery and increased market efficiency. Trading volume exceeding $1.3 billion reflects robust liquidity in newly introduced perpetuals, while developers continue to work on the platform’s robustness through projects like HyperStone.