Hyperliquid to launch HIP3 enabling permissionless perpetual futures

Hyperliquid will activate a major protocol upgrade on Monday, Oct. 13, 2025, that will allow anyone meeting onchain requirements to launch perpetual futures markets on its platform, the company announced on its Discord channel. The upgrade, known as Hyperliquid Improvement Proposal 3 or HIP3, is scheduled to go live at 09:15 UTC and will enable permissionless deployment of futures decentralized exchanges on HyperCore for parties that stake 500,000 HYPE tokens.

Under HIP3, deployers who post the required stake can create independent perpetual swap markets with their own margining, order books, oracles and parameters. Deployers may set a fee share of up to 50 percent above the base fee and will be responsible for market operation, including leverage limits and settlement. The proposal includes technical safeguards such as validator slashing and open interest limits to deter misconduct; staked HYPE can be reduced if operators violate network rules. Platform administrators emphasized there will be no immediate change for ordinary users, but new markets can be created once builders are ready.

Hyperliquid is a Layer 1 blockchain designed for high-performance perpetual futures and spot...