Hyperliquid upgrades live

Hyperliquid has put four protocol upgrades into production, expanding how users can launch tokens, seed liquidity and list perpetual futures on its chain. (hyperliquid.gitbook.io) The first change, HIP-1, adds a native token standard with capped supply and onchain spot order books between HIP-1 tokens. Token deployment uses a Dutch auction that starts at a higher price and can fall to 500 HYPE over 31 hours. (hyperliquid.gitbook.io) HIP-2 adds “Hyperliquidity,” an automated liquidity system for HIP-1 spot pairs against USDC. Hyperliquid’s docs say the strategy updates every block when at least 3 seconds have passed and targets a 0.3% spread without requiring an outside operator. (hyperliquid.gitbook.io) HIP-3 opens perpetual futures listings to outside builders instead of only validator-run markets. Mainnet deployers must stake 500,000 HYPE, and users trading HIP-3 markets pay fees that are 2x standard validator-operated perp fees while deployers can keep a fixed 50% fee share. (hyperliquid.gitbook.io) Perpetuals are derivatives that let traders bet on price moves without an expiry date, and spot markets are the direct buying and selling of the asset itself. Hyperliquid now has one upgrade path for creating the asset and another for creating the market that trades it. (hyperliquid.gitbook.io, hyperliquid.gitbook.io) The rollout also lands as infrastructure providers start wiring the chain into developer tools. Chainstack published Hyperliquid method support this week, with standard Ethereum-style JSON-RPC methods available through its nodes while a set of proprietary Hyperliquid DEX methods remains limited to Hyperliquid’s public RPC. (docs.chainstack.com) That split matters for builders because Hyperliquid runs two linked systems on one chain: HyperCore for order books and HyperEVM for smart contracts. Hyperliquid’s docs say both are secured by the same HyperBFT consensus, which lets applications interact directly with spot and perp markets. (hyperliquid.gitbook.io, docs.chainstack.com) Hyperliquid’s fee design also shifts who gets paid when new markets go live. The platform’s docs say spot and HIP-3 perp deployers can keep up to 50% of trading fees on their assets, while the rest goes to community-directed destinations including Hyperliquidity Provider and the assistance fund. (hyperliquid.gitbook.io) The company’s own social posts tied the upgrade day to visible onchain activity, including Chainstack support and a roughly $1.3 million Bitcoin buy by a whale-sized account. Those posts point to the same message as the code changes: Hyperliquid is adding more ways to issue assets and trade them directly onchain. (x.com, x.com)