Hyperliquid will create a market that does not require permission with HIP-3.

New Opportunities with HIP-3 Update

Hyperliquid will enable investors to create permissionless perpetual futures markets on the HyperCore platform with the HIP-3 network update scheduled for October 13.

Users will be able to create markets by staking 500,000 HYPE, provided they meet certain on-chain requirements. The HIP-3 update stands out as a significant step in facilitating investor access to new markets.

Recently, Hyperliquid executed $10 billion in liquidations during periods of high leverage across markets. Amid the fluctuations in the cryptocurrency market, the HYPE token experienced a 13.4% increase in the last 24 hours, reaching approximately $42. HYPE's market capitalization was recorded at $14.1 billion and it was listed on CoinMarketCap.

Regarding the update's effectiveness, it was stated in an announcement on Hyperliquid's Discord channel that there would be no immediate changes for users. However, it was emphasized that developers would be able to create markets when they are ready. HIP-3 also includes security measures such as penalties for validators and open interest limits, integrated with HyperEVM.