TradeXYZ, Ventuals, And Felix Protocol Launch HIP-3, Introducing Permissionless Perpetual Markets On Hyperliquid
Co-founder of the decentralized trade (DEX) Hyperliquid, Jeff Yan, introduced that the non-custodial cryptocurrency buying and selling interface Trade.xyz, the decentralized derivatives platform Ventuals, and the decentralized borrowing protocol Felix have formally launched Hyperliquid Improvement Proposal 3 (HIP-3), which introduces permissionless perpetual deployments on Hyperliquid following a number of months of growth on the core protocol and deployer.
In a submit on the social media platform X, Jeff Yan additionally famous that perpetuals are anticipated to ship improved capital effectivity and enhanced worth discovery throughout world markets.
HIP-3 represents an improve for Hyperliquid, which was activated in October and permits the creation of permissionless perpetual futures markets. This improve permits any participant who satisfies particular on-chain standards to determine a perpetual futures market on Hyperliquid’s infrastructure with out requiring approval from a centralized itemizing authority.
Under HIP-3, deployers are in a position to launch a perpetual futures trade on HyperCore by staking 500,000 HYPE tokens. The protocol is built-in with HyperEVM to help sensible contracts and governance functionalities, and it incorporates danger administration measures akin to validator slashing and open curiosity limits, as outlined within the official documentation.
Ventuals, Trade.XYZ, And Felix: Exploring The Potential Of HIP-3
HIP-3 offers deployers with entry to institutional-grade orderbook expertise, permitting for probably subtle distribution by means of lively builder participation. The improve abstracts the orderbook infrastructure layer, which can scale back the necessity for deployers to handle frontends or domesticate their very own communities, focusing totally on itemizing markets that entice person curiosity.
Ventuals, which has lately launched its mainnet, depends closely on builder-driven distribution. The platform permits the creation of artificial perpetual futures primarily based on non-public firm valuations for companies akin to OpenAI, SpaceX, and Cursor. Its hybrid oracle system, which mixes a 50/50 weighting of off-chain secondary market knowledge and an eight-hour exponential transferring common of mark costs, is designed to handle the challenges related to pricing illiquid non-public property.
Builders’ choices to record these markets successfully simplify the person expertise, as finish customers are introduced with the power to purchase and commerce pre-IPO tasks instantly from their wallets.
In order to fulfill the five hundred,000 HYPE staking requirement for HIP-3 deployment, Ventuals opened deposits in October. vHYPE holders who take part obtain 25% of trade income as an ongoing charge share and might earn Ventuals factors towards future protocol stakes, with early contributors eligible for as much as a tenfold enhance.
Meanwhile, Trade.XYZ, functioning as a non-custodial buying and selling interface, requires customers to attach their very own wallets whereas retaining management of their funds. Through the platform, customers can entry Hyperliquid perpetual markets, together with cryptocurrecny perpetuals, in addition to “XYZ” perpetuals, that are futures primarily based on conventional property akin to equities and out there for buying and selling 24/7. These “XYZ” perpetuals are margined and settled in USDC, with pricing derived from exterior oracles throughout market hours and inside mechanisms when markets are closed.
Felix serves as a decentralized borrowing protocol, with its main product being feUSD, a USD-pegged stablecoin. Users mint feUSD by locking up accepted cryptocurrency property—akin to HYPE, BTC, ETH, or SOL—as collateral. The system follows a mannequin primarily based on Liquity V2, using over-collateralized debt inside a vault, or “trove,” construction to keep up stability and danger administration.
HIP-3 permits these three tasks to leverage Hyperliquid’s on-chain infrastructure, facilitating permissionless deployment, streamlined market creation, and expanded entry to new monetary merchandise whereas balancing person expertise and protocol safeguards.
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