- Hyperliquid initiates permissionless perpetual market creation.
- HYPE token staking is now mandatory.
- Increased activity expected in crypto derivatives.
Hyperliquid introduced the HIP-3 upgrade on October 13, 2025, allowing permissionless perpetual futures market creation on its decentralized exchange, requiring users to stake HYPE tokens.
This advancement strengthens Hyperliquid’s on-chain derivatives infrastructure, with significant implications for market participants staking HYPE tokens and leveraging the decentralized exchange.
Main Content
The HIP-3 upgrade was announced by Hyperliquid on October 13, 2025. It introduces a permissionless perpetual futures market, empowering developers to create markets by staking HYPE tokens. This initiative expands the on-chain derivatives infrastructure.
Involved in this transition are the Hyperliquid team, primarily represented through Discord communications. Builders are required to stake 500,000–1,000,000 HYPE tokens to deploy these markets, indicating a focus on security and responsible market creation.
The launch significantly impacts the HYPE token, requiring it for market deployment. Total Value Locked increased to $5.5 billion, reflecting increased confidence and commitment from liquidity providers and market participants.
This shift to a permissionless model aligns Hyperliquid with key industry trends. It positions the exchange alongside other platforms like dYdX and Synthetix, offering similar capabilities but with decentralized execution.
The infrastructure allows rapid asset onboarding and robust security through on-chain measures. Dutch auction fee markets and stakes help counter manipulation risks, showcasing a solid technical implementation by Hyperliquid.
Future regulatory scrutiny could focus on market integrity due to this decentralization. However, the model’s technical safeguards may preemptively address potential oversight concerns, emphasizing responsible market structuring through staked collateral and risk mechanisms.
Hyperliquid Admin, Discord Administrator, Hyperliquid, “Deployers will need to stake 500,000 HYPE tokens to initiate a new Perp Market. This demonstrates commitment to responsible market management and helps protect against security risks.”
