Commodity Trading Boom Drives Hyperliquid HIP-3 DEX Open Interest to a Record High, Surpassing $790 Million

Odaily According to reports, as commodity trading activity heats up, the Open Interest for the HIP-3-based decentralized perpetual contract exchange (DEX) within the Hyperliquid ecosystem has risen to over $790 million, setting a new all-time high.

HIP-3 (Hyperliquid Improvement Proposal 3) was launched last October, introducing the "Builder-Deployed Perpetuals" mechanism. This allows eligible developers who have staked sufficient HYPE tokens to permissionlessly deploy perpetual contract markets on Hyperliquid's HyperCore infrastructure. Official data shows that the Open Interest related to HIP-3 was only about $260 million a month ago, but it has recently been consistently reaching new weekly highs.