Hyperliquid Announces HIP-3 Upgrade for Perpetual Market Expansion

Hyperliquid, a decentralized crypto derivatives exchange, is set to enhance its perpetual market with the deployment of Hyperliquid Improvement Proposal 3 (HIP-3) on October 13, 2025. This upgrade will allow for the permissionless creation of perpetual futures markets, marking a significant step towards decentralizing the perp listing process.

Key Details of HIP-3 Deployment

Deployers can launch perpetual DEXs on HyperCore by staking 500,000 HYPE.
The upgrade integrates with HyperEVM for smart contracts and governance.
Safeguards include validator slashing and open interest caps.

The price of Hyperliquid's native token, HYPE, surged by 12.33% to $42.33 following the news, despite a recent downturn in the broader crypto market. However, this price is down from its all-time high of $59.29 recorded on September 18.

Industry experts like Ark Invest's Cathie Wood view Hyperliquid as promising, likening it to Solana in its early days.