Hyperliquid Unveils HIP-3 Growth Mode, Slashing Fees by 90% to Boost New Markets

Why It Matters

The drastic fee reduction makes on‑chain derivatives trading far cheaper, likely spurring a wave of new market launches and higher volume that could boost Hyperliquid’s market share in the competitive crypto‑derivatives space.

Summary

Hyperliquid has rolled out HIP-3 growth mode, a permissionless market‑deployment feature that cuts all‑in taker fees by more than 90% for new assets. Fees drop from the standard 0.045% to as low as 0.0045%‑0.009%, with further reductions for top‑tier stakers, and can be set by deployers on a per‑asset basis. The upgrade requires new markets to be distinct from existing validator‑operated perpetuals and locks fee settings for 30 days to ensure stability. By lowering trading costs and entry barriers, Hyperliquid aims to attract more market makers, deepen liquidity, and expand its asset offerings against centralized competitors.