The HIP‑3 Hyperliquid upgrade is helping Hyperliquid become more than just another trading platform. It introduces a way for anyone, not just the Hyperliquid team, to create and launch their trading markets directly on the exchange. This is possible through “on-chain deployment,” meaning everything happens on the blockchain, without middlemen or approvals.
Simply put, HIP-3 removes the gatekeepers. And that’s a big shift in how Hyperliquid works.
HIP‑3 and Why It Matters for Hyperliquid
HIP‑3 stands for “Hyperliquid Improvement Proposal 3.” It’s a system update that allows users to create trading pairs, like BTC/ETH or SOL/USDT, directly on the Hyperliquid blockchain. These user-created markets are called builder-deployed perps. “Perps” means perpetual contracts, like futures contracts, but without expiry dates. And “builder-deployed” means the markets are created by external developers, not the Hyperliquid core team.
CoreWriter and Builder-Deployed Perps on Hyperliquid
To create these custom markets, developers use CoreWriter, a special program that helps register new perps on-chain.
Think of CoreWriter like a publishing form: it lets you fill in details about your new market, set up tickers (like BTC/USD), connect price feeds, and push it live. Once submitted, the latest market appears on the same Hyperliquid interface everyone already uses. No extra steps for traders. No special tabs. It’s just there. This lets the ecosystem grow faster, without waiting for approvals or listings.
How HyperCore Enables HIP‑3 Functionality
All of this works smoothly because of HyperCore, Hyperliquid blockchain’s custom-built engine. Most crypto exchanges rely on other blockchains to process trades, but Hyperliquid doesn’t. It uses its HyperCore system to keep things fast and fully on-chain.
HyperCore handles every trade, balance update, and real-time market action. It’s why trades feel instant and gas fees don’t slow anything down.
The Role of HyperEVM in Builder Flexibility
Developers use HyperEVM, which stands for “Hyperliquid Ethereum Virtual Machine, " to build on Hyperliquid. This tool lets people write smart contracts using Solidity, the same coding language used on Ethereum. This means Ethereum developers don’t have to learn anything new. They can use the same tools, test environments, and code libraries they already know. HyperEVM makes the transition smooth and fast.
How HIP‑3 Affects Validator Performance on Hyperliquid
The network needs to handle all of this activity—more markets, more trades, more contracts—and that’s where Hyperliquid Validators come in.
Validators are computers that check every transaction and keep the network running. Since HIP-3 launched, they’ve had to process more data, but performance has remained stable. That’s because HIP-3 was designed to split the work evenly, instead of putting pressure on any part of the system. This keeps things fast and secure, even as the exchange grows.
Why HIP‑3 Makes Hyperliquid the Everything Exchange
With builder-deployed perps, an easy-to-use system for launching new markets, and real-time blockchain processing, Hyperliquid is turning into a platform where almost anything can be traded. There’s no need to wait for listings. No special access required. And all of it stays on-chain: from creation to execution. This is what makes HIP‑3 Hyperliquid a major step forward. It gives builders control, speed to traders, and stability to the whole system.
FAQs
1. What is HIP‑3 on Hyperliquid?
HIP‑3 is an upgrade that lets anyone create their trading markets directly on the Hyperliquid exchange using smart contracts.
2. What does “builder-deployed perps” mean?
External developers, not just the Hyperliquid team, can launch new perpetual markets on the platform.
3. What is CoreWriter used for?
CoreWriter is a tool that helps developers register and launch new markets on-chain, connecting them to the main exchange.
4. Why is HyperCore important?
HyperCore is the engine that powers all trades and market actions on Hyperliquid, keeping everything fast and on-chain.
5. Do I need to learn a new coding language to build on Hyperliquid?
No. Developers can use Solidity through HyperEVM, which works like Ethereum smart contracts.
