Industry Newsperpetual futuresonchain derivativeshyperliquidcommodities trading
Hyperliquid Reaches $790M HIP-3 Open Interest
6.0
Layer-1 blockchain Hyperliquid said its HIP-3 "Builder Deployed Perpetuals" reached an all-time high $790 million open interest this month, after launching in mid-October. HIP-3 has generated about $25 billion in trading volume, driven largely by commodities markets and by TradeXYZ markets that account for over $22 billion. The protocol requires 500,000 HYPE staked to deploy a new perpetual.
Key Points
- 1Reports HIP-3 open interest hits $790M and $25B trading volume since launch
- 2Highlights commodities-led surge, with gold/silver rallies driving recent perpetuals adoption and weekly ATH growth
- 3Requires 500,000 HYPE stake to deploy markets, enabling permissionless market creation by builders
Scoring Rationale
Moderate adoption milestone with official metrics and high volumes, but limited relevance beyond crypto derivatives market participants.
Sources
Public references used for this report.
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