There has been a significant development in the Hyperliquid (HYPE) altcoin ecosystem.
Platform co-founder Jeff Yan announced the launch of HIP-3 by TradeXYZ, Ventuals, and Felix Protocol. This update marks a major milestone for the protocol, allowing anyone to freely launch permissionless perpetual (perp) products on Hyperliquid.
Jeff Yan congratulated the teams who have been working on the core protocol and deployer infrastructure for months, stating that HIP-3 allows developers to leverage Hyperliquid's on-chain architecture. Yan said this innovation will increase capital efficiency and strengthen price discovery processes in global markets.
Project teams argue that HIP-3 provides developers with a robust infrastructure and democratizes the distribution of financial products. The Hyperliquid team considers this a critical step in the platform's vision of “aggregating all finance on-chain.”
Meanwhile, the HYPE price has risen by 2.83% in the last 24 hours. The token is still trading 32% below its all-time high.
*This is not investment advice.
