The HIP-3 Era: Hyperliquid's Permissionless Onchain Markets
By turning listings permissionless, HIP-3 shifts Hyperliquid's growth to the chain's community.
It’s been about a month since Hyperliquid Improvement Proposal 3, better known as HIP-3, went live.
A long-anticipated upgrade, HIP-3 equips the HyperCore (the exchange layer of Hyperliquid rather than the EVM layer, the HyperEVM) with the ability to support permissionless listings — meaning anyone, or rather anyone with 500K$ HYPE to stake, can deploy custom markets with the exchange’s liquidity.
This dynamic opens the platform up to the possibility of becoming the place to long or short everything: stocks (via Trade or Felix), commodities, bonds (via Aura), Pre-IPOs (via Ventuals), even Pokémon cards (via Trove) — essentially any asset under the sun.
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David Christopher
David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
