#hip-3

[rwatimes]

RWA Perps Hit Record High as CEX Volume Slumps: Is DeFi Trading Moving to New Wrappers?

Q1 2026 RWA‑perp volume hit $524.8B while May CEX trading fell 5.8%. We unpack HIP‑3 wrappers, risks, fees, and whether flow is shifting to DeFi.

➤ RWA perpetuals are experiencing record volume, driven by DeFi wrappers like HIP-3, as centralized exchange (CEX) trading cools. ➤ These wrappers offer advantages such as faster listings, unified margin, and composability, attracting both crypto-native traders and macro desks. ➤ Key risks include oracle reliability, market microstructure, and regulatory uncertainty, while CEXs still lead in overall liquidity and fiat rails.

[rwatimes]

Hyperliquid Brings Stocks and S&P 500 Perpetuals Onchain

Hyperliquid’s HIP-3 initiative has expanded the platform’s capabilities by bringing stock-linked and S&P 500 perpetual products fully onchain, contrib

➤ Hyperliquid's HIP-3 initiative has successfully launched stock-linked and S&P 500 perpetual contracts on-chain, expanding decentralized finance beyond cryptocurrencies. ➤ This expansion has driven cumulative trading volume past $200 billion, highlighting the growing trend of traditional financial products being integrated into decentralized ecosystems. ➤ The move signifies a blurring line between traditional finance and DeFi, offering greater transparency and accessibility, though regulatory uncertainty remains a challenge.

[rwatimes]

Builder-Deployed Perp Markets Push Hyperliquid to Record Share of Global Perps Volume

➤ Hyperliquid's HIP-3 framework has enabled builder-deployed perpetual futures markets, achieving significant volume and market share against global exchanges, including Binance. ➤ These markets offer trading on a diverse range of assets, including tokenized equities, synthetic perps on private companies, and commodities, expanding beyond traditional crypto derivatives. ➤ Despite concentrated growth driven by a few deployers and a high staking requirement, Hyperliquid is poised for further expansion with upcoming features like outcome-based contracts.

[rwatimes]

Hyperliquid RWA Open Interest Hits $3 Billion All-Time High As HIP-3 Maintains Monthly Record Streak

Hyperliquid RWA open interest reached $3 billion, with HIP-3 setting monthly records since October 2025, signaling growing demand for tokenized derivatives.

➤ Hyperliquid's RWA open interest has surpassed $3 billion, marking a new all-time high and extending a consistent monthly record streak since October 2025. ➤ This growth is attributed to HIP-3, a dedicated RWA perpetuals market on Hyperliquid's proprietary L1 chain, attracting traders seeking leveraged access to tokenized off-chain assets. ➤ While impressive, the concentration of open interest on a single venue raises concerns about risk, and future growth may depend on expanding product breadth and navigating regulatory landscapes.

[rwatimes]

Hyperliquid Growth Surges as Onchain Trading Hits New Records

Let’s uncover Hyperliquid growth as perp DEX volume, ETF demand, and token burns reshape onchain trading markets.

➤ Hyperliquid is experiencing significant growth, capturing 44% of all perpetual DEX volume and surpassing $3 billion in RWA open interest, driven by its HIP-3 upgrade. ➤ The platform is expanding its ecosystem beyond derivatives with the introduction of prediction markets (HIP-4) and benefits from a HYPE token burn mechanism that reduces circulating supply. ➤ This growth indicates a strong shift towards deeper liquidity, faster execution, and diversified use cases, attracting both retail and institutional flows in onchain finance.

[rwatimes]

Hyperliquid hits record 7% share of aggregate perp open interest

Hyperliquid captures a record 6.9% of perpetual futures open interest vs centralized exchanges, driven by HIP-3 real-world asset markets and billions in OI.

➤ Hyperliquid, a decentralized exchange, has achieved a record 6.9% share of perpetual futures open interest against centralized exchanges. ➤ This growth is primarily driven by its HIP-3 markets, which allow trading on real-world assets like gold, oil, and S&P 500 futures, contributing significantly to open interest. ➤ Despite its success, the article notes concentration risks within the DEX space and novel risks associated with RWA trading, such as price feed reliability and regulatory classification.

[rwatimes]

HYPE reaches new all-time high above $62 as ETF inflows accelerate

HYPE's surge and ETF inflows highlight growing institutional interest, potentially reshaping crypto market dynamics and investment strategies.

➤ HYPE, the native token of Hyperliquid, has reached a new all-time high above $62, driven by accelerating ETF inflows and growing institutional interest. ➤ The platform's HIP-3 upgrade enables perpetual markets for non-crypto assets like commodities and equities, attracting significant volume and open interest. ➤ This surge highlights the increasing convergence of traditional finance and decentralized markets, with platforms like Hyperliquid facilitating price discovery for pre-IPO companies and other RWAs.

[rwatimes]

Hyperliquid HIP-3 Open Interest Surges to $2.1 Billion Amid Tokenized Equity Boom

Hyperliquid HIP-3 Open Interest Surges to $2.1 Billion Amid Tokenized Equity Boom

➤ Hyperliquid's HIP-3 framework has seen a significant surge in open interest, reaching $2.1 billion, driven primarily by tokenized equities and commodities rather than traditional crypto pairs. ➤ This growth is largely attributed to TradeXYZ, a decentralized platform on Hyperliquid, which facilitates 24/7 trading of global macro assets and has achieved strong trader retention. ➤ While the platform shows strong institutional interest and potential for growth, it faces regulatory scrutiny and risks associated with synthetic equity instruments and market concentration.