What is HIP-3?
HIP-3 (Hyperliquid Improvement Proposal 3) enables permissionless deployment of perpetual futures markets.
How It Works
Anyone who stakes 500K HYPE can deploy their own market on Hyperliquid's infrastructure.
The deployer chooses:
- Asset (equities, commodities, FX, crypto, custom indices)
- Oracle source
- Leverage limits
- Risk parameters
Hyperliquid handles:
- Order matching
- Settlement
- Risk management
What Can Be Listed
| Category | Examples |
|---|---|
| Equities | Tesla, Nvidia, indices |
| Commodities | Gold, silver |
| FX pairs | EUR/USD, GBP/USD |
| Pre-IPO | SpaceX, OpenAI, Anthropic |
| Crypto | Any token with a reliable oracle |
| Custom | Indices, baskets, structured products |
The Economics
Deployers receive 50% of all trading fees their market generates.
This is protocol-enforced — not discretionary, not a promise. Code.
The other 50% goes to Hyperliquid (protocol fees, HYPE buybacks).
Fee Structure
| Recipient | Share |
|---|---|
| Deployer | 50% |
| Hyperliquid protocol | 50% |
Standard fee rate: ~4.5 bps taker (though many markets currently operate in Growth Mode with reduced fees).
INFO
Next: The Barrier