Advertisement
Hyperliquid Unveils HIP-3, Slashing Fees to Spark a Wave of New On-Chain Markets
- Hyperliquid (HYPE) rolled out HIP-3 Growth Mode, a feature allowing users to deploy perpetual futures markets with significantly reduced trading fees.
- The feature decentralises market listing, letting third-party builders launch markets and activate lower taker fees (dropping from 0.045% to as low as ~0.00144%) without central approval.
- The goal is to lower the barrier for launching new or experimental assets and increase the speed and variety of available markets on the platform.
Hyperliquid (HYPE) has rolled out HIP-3 Growth Mode, a new feature that allows its users to deploy perpetual futures markets with sharply reduced trading fees.
The feature allows deployers to activate lower taker fees for specific markets without any approval process or centralised gatekeeping, which is usually done by the platform itself.
For eligible markets, all-in taker fees drop from the standard 0.045% to about 0.0045% and 0.009%. At the highest staking and volume tiers, they can fall further, to roughly 0.00144%, 0.00288%, according to the project’s docs.
Taker fees are charged to traders who remove liquidity from the order book by executing orders that fill immediately.
Related: Arthur Hayes Warns Bitcoin Could Dip to $80K Before Liquidity Fuels a Run to $250K
Exploring Hyperliquid’s HIP-3 Growth Mode
HIP-3 is an upgrade announced earlier in October, which basically provides a path for third-party builders to launch perp DEXs on HyperCore.
Growth Mode shifts Hyperliquid from a system where the core team decides what gets listed to one where many builders can launch their own markets, as long as they post a bond and follow basic rules. This is meant to speed up the number and variety of markets while keeping safety checks in place.
The announcement drew a strong reaction on crypto-focused forums and X, where several users framed the new fee structure and open market deployment as highly positive for Hyperliquid’s growth.
“This is Hyperliquid rapidly expanding away from the crypto casino, diversifying its business and making it less correlated to crypto cycles,” Alpha Please researcher Aylo said on X.
To use growth mode, deployers must set a “fee scale”, which is just the share of user trading fees they keep before discounts, including those tied to aligned stablecoin collateral, and this scale goes between 0 and 1.
Advertisement
The feature is intended to make it cheaper to trade new pairs and to lower the barrier for launching markets, particularly for newer or more experimental assets. However, once growth mode is switched on for a given market, the configuration is locked for 30 days before it can be changed, providing a minimum period of fee and incentive stability.
Read more: Standard Chartered Analyst Says Bitcoin Sell-Off Has Bottomed, Eyes Year-End Rally
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
