The Hyperliquid’s decentralized exchange introduced an update that gives up third parties who have been able to launch their own forever replacing platform contracts.
Hyperliquid improvement proposal 3 (HIP-3) begins Monday, according to the official Hyperliquid Discord Channel. This change introduces unauthorized, deployed by the builder Perpetual futures contractScoring a basic step toward fully decentralized futures lists.
HIP-3The implementation of Decentralized exchange (Dex) Allows anyone who sets up 500,000 hype ($ 20.5 million at the time of writing) to deploy their own forever contract with an independent margin, orders and parameters.
Deployers “can set a portion of up to 50%” at the top of the base charge rate and responsible for market definition – including Oracle and contract specification – as well as market operation, including setting oracle prices, leverage limits, and adjustment as needed.
Perpetual swaps are futures derivative contracts that monitor the price of an underlying possession but no expiration date, allowing entrepreneurs to hold a long or short position forever. Their prices remain close to the market area through a funding rate mechanism that regularly transfers payments between longs and shorts.
Related: Centralized exchanges faced with claims of massive undercounts
Long in the works
The minimum viable implementation of the HIP-3 product at Testnet has risen since late in September, with a network upgrade on Monday, activating it on Mainnet. Blockchain infrastructure company said Quicknode Assessment That HIP-3 makes the market more responding to the needs of the builders:
“HIP-3 replaced gatekeepers with code so that teams can send markets as quickly as they can design them while maintaining the quality and safety of the user intact by onchain policies and incentives.”
The proposal removes list fees that are seen in centralized exchanges, reduces fixed costs by sharing infrastructure and allowing builders to recover costs by sharing the fee.
“The quality of the implementation increases as the transaction costs have fallen, pushing more volume to the HIP-3 markets that further subscribing to the builders through the payment income,” Quicknode wrote in its review.
Related: Investigation is tied to 100,000 BTC Hyperliquid Whale to former Bitforex CEO
Hyperliquid becomes financial infrastructure
The blockchain data layer chainsight also wrote in a Assessment That HIP-3 destroys the current model, where only exchange operators can list the properties. This, according to the chain
Chainsight expects this to lead to the creation of new classes in Decentralized Finance (DEFI)Because “now, almost any data feed can be a tradable market.” This includes the realized volatility, pre-tiy appreciation of companies, traditional forex pairs, stock indexes and unique derivatives such as correlation swaps.
Synthetic Market Protocols Ventual din Plans To use HIP-3 to allow exposure to the price action of private companies. The company said that “by creating eternal futures (if not known as Perps) tied to private company values, ventuals give anyone the ability to express a perspective on the trajectory of companies they follow closely.”
