Hyperliquid (HYPE), the era of 'anyone can trade' is over?...Permissioned market added

▲ Hyperliquid (HYPE)/AI-generated image

Hyperliquid (HYPE) is expanding its regulatory compliance by adding permissioned market functionality to HIP-3.

According to cryptocurrency media outlet Coingape on September 3 (local time), Hyperliquid has unveiled HIP-3* functionality, which allows HIP-3 deployers to optionally operate permissioned markets. The core is an on-chain allowlist managed directly by the deployer. Market operators can use this list to set whether specific users can access the market.

Jeffrey Yan, co-founder of Hyperliquid, stated that the new feature does not replace the existing HIP-3 structure. HIP-3* is an additional feature that only necessary deployers can choose to use. There are no changes to existing permissionless markets.

HIP-3 is a structure that allows external developers to directly deploy perpetual futures markets on HyperCore. Deployers directly set trading assets, price information provision methods, leverage limits, and fees. Deployers are also responsible for market operation and settlement.

With the addition of HIP-3*, deployers and sub-deployers can manage the on-chain allowlist. Hyperliquid has focused on expanding options so that deployers can directly reflect the regulations and operational requirements applicable to each market. Hyperliquid provides the underlying on-chain infrastructure, and each deployer maintains responsibility for the operation of individual markets.

The first HIP-3* version is running on the testnet. The current specifications are in an early stage and may change based on feedback. The key to this update is the addition of a feature that allows access to be restricted as needed, while maintaining the open market structure of the existing HIP-3.

[Article Key Summary]

-Hyperliquid has unveiled HIP-3* functionality, allowing HIP-3 deployers to optionally operate permissioned markets.

-HIP-3* can restrict market participants through an on-chain allowlist and does not affect existing HIP-3 markets.

-The first version is running on the testnet, and each deployer is responsible for market operation and regulatory compliance.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. This content should be interpreted for informational purposes only.*