2025-12-04 16:38:41

After HIP-3 passed, Hyperliquid's gameplay changed.

What can you do on one platform now? Crypto perpetuals, US stock contracts, pre-market trading—you can access them all, and the costs are insanely low. Not to mention the lack of KYC, but the key is the liquidity depth is maxed out, and order book slippage is basically negligible. With this combination, the narratives of PerpDEX and RWA are now directly connected.

Currently, the only ones that have truly implemented this in their products are platforms like Trade.xyz and Ventuals. But think about it— as HIP-3 supports more and more assets, more protocols are bound to follow. By then, Hyperliquid's first-mover advantage and technical moat will only get stronger—others will have to seriously weigh the costs before catching up.

This upgrade, to some extent, has redefined what a financial frontend should look like.

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RugPullAlertBot

· 12-04 17:08

Damn, this Hype move is insane. One platform handles all trading scenarios, and slippage is basically zero—who can resist that?

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CryptoPunster

· 12-04 17:05

Smiling as I lost it all this round, it shows that this Hype wave really took off, but in the end, it's still just a few “winner-takes-all” protocols that actually make money. No KYC, negligible slippage, all-assets in one place... sounds great, but the real question is whether you have enough principal to pay the tuition. At this rate, once everyone else joins in, first-mover advantage just becomes first-mover “harvest” advantage. Multi-chain aggregation, cross-asset contracts... it all sounds nice, but in reality, it’s just tempting you to bet your entire net worth. This Hype move is truly clever, turning PerpDEX into a cash machine for players. As always, it’s not the look of the financial front-end that matters, but what your wallet looks like.

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SneakyFlashloan