Everyone Can Launch a DEX: Hyperliquid Activates HIP-3 Upgrade

Core Insights - Hyperliquid has announced the activation of its HIP-3 upgrade, enabling anyone to launch their own futures decentralized exchange (DEX) with a minimum stake of 500,000 HYPE tokens [1][5] - The platform has experienced significant growth, with its Total Value Locked (TVL) increasing from $564 million in Q4 2024 to over $5.54 billion as of now, reflecting a substantial rise in user engagement and trading activity [4][7] - The HIP-3 upgrade is expected to foster innovation and decentralization within the financial ecosystem, allowing startups and individuals to create low-cost futures DEXs for various assets [6][5] Company Overview - Hyperliquid operates as a Layer-1 blockchain platform that supports high-performance perpetual futures contracts and spot trading in a decentralized finance (DeFi) environment, utilizing a custom consensus algorithm called HyperBFT [2] - The platform is designed to provide a trading experience comparable to centralized exchanges (CEX) while maintaining low transaction fees and minimal latency [3] Market Performance - As of the latest report, Hyperliquid's daily trading volume stands at $812 million, indicating robust market activity [4] - The price of HYPE tokens has seen a 13.1% increase, reaching $41.97, reflecting positive market sentiment following the announcement of the HIP-3 upgrade [7]