Hyperliquid’s HIP-3 Faces Monopoly Risk as TradeXYZ Controls 95% of Volume

TLDR: TradeXYZ controls over 95% of HIP-3’s $3.2 billion open interest currently Non-TradeXYZ deployers face four-year paybacks versus TradeXYZ’s five months Felix Perps shut down as Ventuals’ vHYPE trades at a discount Analysts propose tiered HYPE staking to broaden deployer participation Hyperliquid’s HIP-3 framework has driven open interest to $3.2 billion, but a single deployer, [...]

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