Hyperliquid will activate its HIP-3 network upgrade, enabling permissionless deployment of perpetual futures markets on the platform. This move follows a period of high market volatility, during which Hyperliquid processed $10 billion in liquidations. The upgrade, which is integrated with HyperEVM, includes safeguards and comes after Galaxy Digital received $460 million in private investment to support its data center business.
The upgrade marks a major step toward decentralizing Hyperliquid ’s derivatives infrastructure, giving builders the ability to launch perpetual futures markets directly onchain.The activation comes days after Hyperliquid handled $10 billion in liquidations during a market-wide leverage flush.
HYPE surged 13.4% in the past 24 hours to around $42, with a market cap of $14.1 billion, per CoinMarketCap. Hyperliquid will activate its HIP-3 network upgrade on Monday, allowing anyone who meets onchain requirements to launch perpetual futures markets on the platform. An administrator announced in Hyperliquid’s Discord that the Oct. 13 upgrade will turn on HIP-3, adding that “there is no immediate change for users,” but deployers can create markets “once ready.” The proposal — Hyperliquid Improvement Proposal 3 — introduces permissionless deployment of perpetual DEXs on HyperCore by staking 500,000 HYPE. Integrated with HyperEVM, HIP-3 includes safeguards such as validator slashing and open interest limits. HYPE has risen 13.4% in the past 24 hours to about $42, giving the token a market capitalization of roughly $14.1 billion, according to HyperLiquid was in the spotlight over the weekend following the crypto market's leverage flush that saw $19.3 billion worth of liquidations, $10 billion of which on HyperLiquid, perThe unnamed investor bought nearly 13 million shares from the company and some executives. The firm intends to use the proceeds to boost its Helios data center project.Galaxy Digital announced a $460 million private investment from an unnamed major asset manager to support its data center business and corporate needs.The funds will aid in developing the Helios data center, expected to provide 133 megawatts of IT load by mid-2026.Oct 11, 2025
Hyperliquid HIP-3 Decentralization Derivatives Galaxy Digital
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