Hyperliquid’s Epic Upgrade: The Perpetual Market Revolt Begins! 🚀

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Key Takeaways, or Why Nothing Will Ever Be the Same Again

What in the Name of All Things Liquid is HIP-3?

Imagine a world where anyone can set up a perpetual swap market without waiting for the gatekeepers. Welcome to Hyperliquid’s HIP-3- a permissionless, builder-friendly chaos engine that lets new markets pop up faster than weeds after rain. Perpetuals? More like perpetual chaos, in a good way.

What’s This Doing to HYPE Prices? Or, Will It Make You Rich or Just Confused?

As if markets weren’t already wild, the latest upgrade is expected to stir up a storm-drawing fresh traders, market makers, and a parade of new markets. The result? Demand for HYPE spikes faster than a chef’s knife at a vegan picnic. Buckle up, it’s gonna be a bumpy ride. 🚀

The legendary onchain decentralized exchange Hyperliquid has rolled out yet another shiny upgrade, this time llamado HIP-3 (that’s “Hotter Infrared Perry-3,” or so we’ll pretend). It’s designed to attract activity faster than a cat chasing a laser pointer, and was announced on the 19th of November – just in time to mess with your head.

This upgrade follows the previous one, which let anyone create their own Futures markets-assuming they had enough HYPE tokens (500,000 to be exact). Now, with HIP-3’s “growth mode,” fees drop by a whopping 90%, making it more tempting than free pizza at a blockchain conference. Rebates, volume contributions-everything gets slashed.

Growth mode can be turned on for individual assets without asking anyone’s permission-like a prankster flicking switches behind your back. Usual fees? Gone from 0.045% to between 0.0045% and 0.009%. The big whales get even better rates: 0.00144% to 0.00288%. It’s almost like they’re giving money away, but don’t worry-it’s just incentives.

But hold your horses-these growth markets can’t include Bitcoin, ETFs, indexes, or baskets of crypto. The validators, who are basically the blockchain’s bouncers, can kick off or shut down markets if they catch anything fishy-like “parasitic volume,” or markets trying to sneak in their cousin, Grandpa Bitcoin.

Fees So Low, Even Your Grandma Could Trade!

Hyperliquid’s daily user count has been rising faster than a balloon at a clown convention, and Open Interest (OI) once skyrocketed since March-then took a nosedive after the October crash, because, well, markets are emotional like that.

Crypto Twitter folks are all in on HIP-3, calling it the “biggest thing since sliced bread”-or at least since someone realized you can trade digital cats for digital dogecoin.

One witty user said, “You’re not bullish enough on HIP-3”-which is a lovely way to say “Hold onto your hats, it’s going to be a wild ride.”

“It’s a turbo-boost for innovation on the fastest L1 for derivatives. Lower costs, exotic assets, tokenized treasuries on STEROIDS-you name it. Deployer dreams come true, and traders? Prepare for volume explosions and spreads so thin you’ll need a magnifying glass to spot them.”

As for HYPE? It’s hanging out in the $36.5 to $43.3 range this November, like a teenager’s mood swings. Since May, it’s been doing the “Price Rollercoaster,” mostly between $32.5 and $50. The market-an unpredictable beast-like a kitten with a full set of claws.

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2025-11-21 04:12