Hyperliquid, a leading decentralized trading protocol, is set to activate its long-awaited HIP-3 upgrade, a move that will allow anyone meeting on-chain requirements to create and deploy perpetual futures markets without needing prior approval.
According to an announcement shared in Hyperliquid’s official Discord channel, the network upgrade scheduled for October 13 will include the activation of HIP-3. The upgrade marks an important step toward expanding user autonomy and decentralization within the protocol.
“HIP-3 will be enabled during this network upgrade. There is no immediate change for users. Deployers meeting the onchain requirements will be able to deploy perps for trading once ready,” a Hyperliquid administrator stated.
The Hyperliquid Improvement Proposal 3 (HIP-3) introduces permissionless perpetuals—builder-deployed markets that operate independently on the platform’s HyperCore infrastructure. To launch a new perpetual DEX, deployers must stake 500,000 HYPE, the protocol’s native token.
HIP-3 also integrates with HyperEVM, Hyperliquid’s smart contract and governance layer, adding extra security through mechanisms like validator slashing and open interest caps. These safeguards aim to maintain network stability as the ecosystem grows more open and user-driven.
The upgrade is being hailed as a key milestone in Hyperliquid’s roadmap toward full decentralization of its perpetuals market—an area traditionally managed through more centralized listings.
Market sentiment around the news appears positive. The HYPE token climbed roughly 11% in the past 24 hours, reaching about $42 and pushing its market capitalization to $11.4 billion, according to data from The Block.
With HIP-3 live, Hyperliquid positions itself at the forefront of decentralized derivatives innovation, giving developers and traders more freedom to shape the market landscape on their own terms.
