In May 2025, an improvement proposal named HIP-3 sparked widespread discussion in the DeFi sector, with its minimum viable version now live on the Testnet. This is not just a simple protocol upgrade, but a key step in the overall development blueprint that could have a profound impact on the future of on-chain derivatives trading.
To fully understand the importance of HIP-3, we need to first grasp its overall design philosophy, which starts with three core proposals.
Hyperliquid Trilogy
The development path of Hyperliquid is clear and coherent, building a progressive and comprehensive financial ecosystem through three key improvement proposals.
HIP-1: Breakthrough Coin Listing Restrictions
For a long time, new projects have faced high barriers to listing coins on mainstream trading platforms. The process is opaque, costly, and often accompanied by harsh terms. Project teams must undergo lengthy negotiations, which may require them to pay high fees or concede a large amount of tokens.