# Пов'язані статті щодо HIP-3

Центр новин HTX надає останні статті та поглиблений аналіз на тему "HIP-3", що охоплює ринкові тренди, оновлення проєктів, технологічні розробки та регуляторну політику в криптоіндустрії.

In-depth Analysis of Trade[XYZ]: How Were 92 Markets and 98% of HIP-3 Trading Volume Established?

**Deep Dive into Trade[XYZ]: How It Built 92 Markets and 98% of HIP-3 Volume** This analysis explores Trade[XYZ], a deployment on Hyperliquid's HIP-3 framework, which now accounts for 98% of its transaction volume. It argues that Trade[XYZ] is not a threat to Hyperliquid but a validation of its strategy: providing open infrastructure for specialized teams to build deep liquidity markets. The report details the significant difficulty of building institutional-grade perpetual markets for real-world assets (stocks, indices, commodities). Trade[XYZ] succeeded by rapidly launching markets (median 3.3 days), attracting deep-making market makers, and implementing sophisticated risk mechanisms (like "Discovery Bounds") to maintain liquidity even when traditional hedges are unavailable (e.g., overnight, pre-IPO). Key findings include: * **User Acquisition:** ~97% of Trade[XYZ] volume trades through Hyperliquid's own front-end, bringing over 300,000 new wallets to the protocol. * **Fee Sharing:** Protocol fees are split 50/50 between Hyperliquid (for HYPE buybacks) and the deployer. The "Growth Mode" (low fees for RWA) is a strategy to build market share before potential monetization at standard rates, as evidenced by the GOLD market. * **Market Quality:** Trade[XYZ] has achieved tight spreads and significant open interest, led by commodities and indices. Its ongoing operational management of 92 markets is a full-time business. * **Strategic Fit:** Building these markets internally would expose Hyperliquid to regulatory risk and divert focus from its core infrastructure mission. HIP-3 allows expert deployers like Trade[XYZ] to handle complex operations while Hyperliquid benefits from network effects, fees, and users. The conclusion is that Trade[XYZ]'s dominance demonstrates the success of Hyperliquid's horizontal model: attracting the best operators to build winning verticals on its neutral, high-performance base layer.

marsbit07/16 06:22

In-depth Analysis of Trade[XYZ]: How Were 92 Markets and 98% of HIP-3 Trading Volume Established?

marsbit07/16 06:22

HIP-3's Watershed Moment: After Trade.XYZ Swallows 90% of the Market, Multiple Players Exit One After Another

HIP-3 on Hyperliquid, enabling permissionless market creation, has fueled rapid growth with over $300 billion in cumulative trading volume. However, the ecosystem is undergoing a sharp consolidation. Trade.XYZ has captured a dominant market share, exceeding 90% of trading volume and 97% of open interest, driven by its first-mover advantage, use of USDC, and rapid asset expansion. This has created a significant liquidity flywheel effect, leaving other projects struggling. Several have recently shut down, including Felix and Ventuals, citing unsustainable competition and the high costs of market deployment. The initial 500,000 HYPE staking requirement (worth ~$35.9M) and subsequent auction costs for new assets present a high barrier to entry. Analysis shows most deployers face low annual yields and multi-year cost recovery periods, unlike Trade.XYZ's estimated 74% yield and 5-month payback. This centralization risks stifling innovation and limiting Hyperliquid's ecosystem diversity beyond perpetual contracts. Proposed solutions include a tiered exchange model with lower entry barriers and adjustments to the fee-sharing model for new markets to improve sustainability for smaller players.

marsbit06/16 07:39

HIP-3's Watershed Moment: After Trade.XYZ Swallows 90% of the Market, Multiple Players Exit One After Another

marsbit06/16 07:39

If Hyperliquid Is the New Nasdaq, Which Projects Are Playing the Role of Brokers?

Amidst sluggish market conditions, several crypto startups are pivoting towards building on the Hyperliquid ecosystem, positioning it as a potential "on-chain Nasdaq." These projects are developing trading frontends, strategy platforms, AI Agents, and custom markets using HIP-3, aiming to capture value by acting as "brokerages" that interface with users. The core idea is that while Hyperliquid provides the foundational liquidity and matching engine (like an exchange), these upper-layer applications handle user acquisition, product design, and experience optimization (like brokerages such as Robinhood). Their primary revenue models include transaction fee sharing and the potential appreciation of the HYPE token required for deployment. Key projects highlighted include: * **Trade.xyz**: Dominates the HIP-3 space by bringing traditional finance assets (indices, commodities, stocks) onto Hyperliquid. * **Dreamcash**: Focuses on mobile user growth with a simplified, gamified interface to lower the barrier to entry. * **Ventuals**: Targets the Pre-IPO market, creating perpetual contracts for unicorn company valuations. * **Based**: Aims to be a "super app" combining trading, prediction markets, and crypto payments, introducing yield-generating collateral via its HyENA protocol. * **Minara AI**: Explores an AI Agent future, allowing users to execute trades on Hyperliquid via natural language commands to AI tools. The article concludes that this open, composable ecosystem is Hyperliquid's key competitive advantage. It is evolving from a user-facing platform into a financial operating system (Financial OS). This creates a symbiotic network where each new application brings more users and liquidity to Hyperliquid, while the applications benefit from its robust infrastructure. This network effect could define the next phase of competition among decentralized financial networks.

Odaily星球日报06/08 06:01

If Hyperliquid Is the New Nasdaq, Which Projects Are Playing the Role of Brokers?

Odaily星球日报06/08 06:01

Hyperliquid Strategies CEO bets on HYPE to outperform Bitcoin, Ethereum in Q2 – Details

Hyperliquid's HYPE token significantly outperformed Bitcoin and Ethereum in Q1 2026, posting 48% gains while BTC and ETH fell by 25% and 32%, respectively. Hyperliquid Strategies CEO David Schamis expects this trend to continue into Q2, citing growing platform adoption. A key driver has been the surge in non-crypto asset trading (HIP-3) on Hyperliquid, partly due to increased activity during the West Asia crisis. HIP-3's daily open interest surpassed $2 billion, accounting for 38%-48% of total platform activity and contributing significantly to revenue. This revenue funds aggressive HYPE buybacks, which have historically correlated with strong price increases—such as an 86% surge in January and a 72% rally in February-March. Schamis believes that if HIP-3 growth continues and market sentiment improves, the current pullback may present a buying opportunity. HYPE remains a standout asset heading into Q2.

ambcrypto04/02 07:02

Hyperliquid Strategies CEO bets on HYPE to outperform Bitcoin, Ethereum in Q2 – Details

ambcrypto04/02 07:02

‘Quite sticky’ – What HIP-3 60% user retention means for Hyperliquid

Hyperliquid's HIP-3 segment, which offers trading in non-crypto assets like oil, gold, and silver, demonstrates significantly higher user retention at 64% compared to just 27% for crypto assets. Analysts attribute this "sticky" user base to the appeal of trading less volatile traditional assets over crypto, which is prone to high volatility and market manipulation. This trend has led to increased liquidity and trading volume, with HIP-3 accounting for 33% of the platform's total volume. The growth in real-world asset tokenization has also contributed nearly 10% of the platform's fees. As a result, HYPE's value has surged, rising 57% during the recent crisis. For a sustained rally, analysts note that bulls must overcome key resistance levels at $42 and $46 to potentially reach $50.

ambcrypto03/18 10:07

‘Quite sticky’ – What HIP-3 60% user retention means for Hyperliquid

ambcrypto03/18 10:07

Hyperliquid’s HIP-3 Protocol Records $720M Single-Day Weekend Trading

Hyperliquid's HIP-3 protocol, a record-breaking $720 million in single-day weekend trading volume, driven by heightened demand for on-chain access to traditional assets. According to Pine Analytics, this surge is attributed to two key events: a silver price rally in January and geopolitical tensions in late February that drove traders to decentralized platforms when traditional markets were closed. The platform's native token, HYPE, saw a 2.67% price increase and a 55% rise in 24-hour trading volume, reflecting growing adoption. Analysts suggest that if this accelerating trend continues, HYPE is well-positioned to outperform other crypto assets.

TheNewsCrypto03/09 12:29

Hyperliquid’s HIP-3 Protocol Records $720M Single-Day Weekend Trading

TheNewsCrypto03/09 12:29

No Need to Wait for Monday's Open: Hyperliquid's HIP-3 Is Becoming a Pricing Reference for CME

Based on a detailed analysis of Hyperliquid's HIP-3 silver perpetual contract during a period of extreme market volatility, this report compares its performance against the CME/COMEX benchmark. Key findings indicate that for retail-sized orders, Hyperliquid offered competitive spreads (median 2.4 bps vs. COMEX's 3 bps) and execution quality pre-crash. However, the platform exhibited thinner order book depth and higher tail execution risk during the sell-off, with some trades deviating over 50 bps from the mid-price. A significant advantage emerged during weekends when CME is closed: Hyperliquid provided continuous 24/7 trading, processing $257 million in notional volume with compressed spreads (median 0.93 bps). This continuous price discovery mechanism effectively priced the Sunday reopening auction, with its final price closer to CME's open than Friday's close. While weekend liquidity is structurally lower, the platform demonstrates a unique use case for pre-open hedging and price discovery. The report concludes that HIP-3 is effective for retail and mid-sized flows but remains capacity-constrained for large institutional orders compared to traditional futures venues.

marsbit02/09 07:33

No Need to Wait for Monday's Open: Hyperliquid's HIP-3 Is Becoming a Pricing Reference for CME

marsbit02/09 07:33

DEX adoption, HIP-3 fuel $200 HYPE case as rivals threaten Hyperliquid’s dominance

Decentralized perpetuals exchange Hyperliquid has emerged as a breakout project in 2025, though it faces growing competition from rivals with lucrative reward systems. Cantor Fitzgerald forecasts that Hyperliquid’s HYPE token could reach $200 by 2035, driven by the implementation of HIP-3 and a token buyback mechanism that returns fees to holders. The report assumes a 15% annual growth rate and a reduction in token supply. However, emerging competitors like Lighter DEX pose a significant threat. Lighter uses a zero-fee model and a points-based farming system, attracting high trading volumes and speculation around an upcoming token launch. Despite Hyperliquid’s strong position, competitor incentives may challenge its dominance.

cointelegraph12/22 12:59

DEX adoption, HIP-3 fuel $200 HYPE case as rivals threaten Hyperliquid’s dominance

cointelegraph12/22 12:59

HyENA Officially Launches: Ethena-Backed, USDe-Margined Perp DEX Lands on Hyperliquid

HyENA, a new perpetual DEX developed by the Based team, has officially launched on Hyperliquid. Supported by the Ethena Foundation, it introduces a novel trading model that allows users to post USDe as margin. A key innovation is that eligible USDe earns up to 12% APY while being used as collateral, enabling traders to generate yield on otherwise idle assets. The platform initially supports perpetual contracts for BTC, ETH, SOL, and HYPE. It also introduces a new DeFi primitive, HLPe, which consolidates various revenue streams like maker profits and funding rates into a single vault share for greater transparency and capital efficiency. HyENA is one of the first major products built on Hyperliquid's new HIP-3 standard, which allows builders to deploy their own perpetual markets with customizable parameters by staking HYPE. This framework enables faster listing of new trading pairs and innovative incentives while inheriting Hyperliquid's high performance. The Based team, a top builder on Hyperliquid and backed by Ethena, views HyENA as a critical step in establishing USDe as a premier margin asset in decentralized finance, bringing a high-frequency use case from centralized exchanges onchain.

深潮12/10 08:01

HyENA Officially Launches: Ethena-Backed, USDe-Margined Perp DEX Lands on Hyperliquid

深潮12/10 08:01

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