Hyperliquid will activate the HIP-3 network upgrade on Monday, allowing anyone who meets the on-chain requirements to launch a perpetual futures market on the platform.
Administrators announced on Hyperliquid’s Discord that HIP-3 will be enabled with an upgrade on October 13th, adding that there is “no immediate change for users” but that adopters can create markets “when they are ready.”
This proposal (Hyperliquid Improvement Proposal 3) introduces the permissionless deployment of a perpetual DEX on HyperCore by staking 500,000 HYPE. HIP-3 integrated with HyperEVM includes protections such as validator slashes and open interest limits.
According to CoinMarketCap, HYPE has risen 13.4% in the past 24 hours to around $42, giving the token a market cap of around $14.1 billion.
HyperLiquid gained attention over the weekend following a leverage flash in the crypto market that saw $19.3 billion worth of liquidations take place, of which $10 billion came from HyperLiquid, according to CoinGlass. Rival exchange Binance performed poorly during the volatility, resulting in hundreds of millions of dollars being distributed in redemptions.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
