Hyperliquid HIP-3 open-interest hits $793M on commodities surge

Hyperliquid's HIP-3, also known as "Builder Deployed Perpetuals," lets anyone who stakes 500,000 HYPE to create a new perpetual futures market on the Hyperliquid blockchain.

Layer-1 blockchain network Hyperliquid has seen an explosion in trading through “Builder-Deployed Perpetuals” this month, hitting a new all-time high in open interest on Monday.

In a post on X, Hyperliquid attributed the rapid adoption of HIP-3 — a permissionless market creation framework — to a surge in commodities trading.

“HIP-3 open interest reached an all-time high of $790M, driven recently by a surge in commodities trading. HIP-3 OI has been hitting new ATHs each week. A month ago, HIP-3 OI was $260M.”

Read more