Hyperliquid will launch the HIP-3 upgrade to enable the creation of permissionless perpetual contract markets

ChainCatcher news, according to The Block, Hyperliquid is expected to activate a significant protocol upgrade HIP-3 later, which will support the creation of perpetual futures markets without permission. A Hyperliquid administrator announced in the protocol's Discord channel that the network upgrade will include the activation of HIP-3.

The administrator stated, "HIP-3 will be enabled during this network upgrade. There will be no immediate changes for users. Once the deployers meet the on-chain requirements and are ready, they can deploy perpetual contracts for trading." The project mentioned in a previously disclosed document that HIP-3 (Hyperliquid Improvement Proposal 3) will support perpetual contracts deployed by developers, marking a "key milestone in achieving a fully decentralized perpetual contract listing process."

According to the document, after HIP-3 is enabled, deployers only need to stake 500,000 HYPE tokens to launch a perpetual contract DEX on HyperCore without permission. HIP-3 integrates with HyperEVM to enable smart contract and governance functionalities, and also includes safeguards such as validator slashing and position limits.