Hyperliquid Goes Permissionless with HIP-3 Challenging CEX — But Entry Costs 500,000 HYPE

Hyperliquid has activated its HIP-3 network upgrade, opening the door for developers to launch their own perpetual decentralized exchanges (perp DEXs) without centralized approval. The upgrade, which went live on October 13, 2025, at 9:15 a.m. UTC, marks one of the biggest structural changes in the protocol’s history, effectively making Hyperliquid a permissionless platform for all derivatives. Source: Hyperliquid Discord With HIP-3, qualified developers can deploy perpetual contract markets by staking ...