HyperZap has been sunset. Thank you for being part of this journey. Existing users should export their private keys at hyperzap.io by December 31, 2026. Our team has decided to permanently shut down the HyperZap project so we can focus our time and energy on what we are building next. We invite you to follow along at @LorisTools!

HIP-3 markets quietly did $15B volume in new assets class users are trading Tesla perps, SpaceX pre-IPO, Nvidia, volatility indices and so much more this is exactly how @HyperliquidX becomes the everything exchange below is a deeper dive into hip-3 ⬇️

The HIP-3 perp market is one of the hottest narratives in crypto right now. It’s averaging over $10B in volume, with TradeXYZ controlling ~90% of the market haha Let’s take a closer look at the performance of the overall HIP-3 perp market 🧵

⚡️ HyENA DEX page is now live on the Hyperzap HIP3 Analytics dashboard. View Trading Volume, Unique Users, Fees, Liquidations, and more. Check it out 👉 hyperzap.io/hip3/dex/hyna

➥ The HIP-3 Landscape (Updated Dec '25) HIP-3 is turning @HyperliquidX into a competitive layer where deployers compete for order flow, volume, and trader attention. Let’s look at how the major deployers are positioning themselves within the HIP-3 landscape 🧵 — — — ► The Core Economics Behind HIP-3 HIP-3 lets deployers launch their own perps exchange by staking 500,000 HYPE. Staker yield depends on how much trading activity the market generates. How the economics work: ▸ Fees are shared between Hyperliquid, the deployer, and stakers ▸ Only a small portion reaches stakers ▸ Daily volume remains the main driver of yield What influences returns: ▸ Growth Mode lowers taker fees to attract traders but reduces shared revenue ▸ Deployers cover oracle and operating costs before passing any yield on — ► HIP-3 Landscape HIP-3 is now supported by several deployers, each focused on different market segments and asset types. These teams define the early structure of HIP-3 and compete for traders and liquidity. ... ➤ @tradexyz / @unitxyz TradeXYZ is an early HIP-3 deployer focused on US tech stocks, AI names, and high-volume synthetics. Live assets: ▸ XYZ100 ▸ Equities: $TSLA, $NVDA, $AMZN, $GOOG, $PLTR, $NFLX, $META, $MSFT, $HOOD, $MSTR, $APL and more ▸ GOLD Key features: ▸ Broad large-cap tech and AI coverage ▸ Up to 20x leverage ▸ Growth Mode with taker fees near 0.009% ▸ Roughly $4.9B in cumulative volume ... ➤ @ventuals Ventuals focuses on exotic and private-market style assets, bringing frontier tech and pre-IPO themes into HIP-3. Live assets: ▸ SPACEX (pre-IPO synthetic) ▸ $OPENAI ▸ $ANTHROPIC ▸ Private-equity style synthetics ▸ MAG7 (Magnificent 7 index) Key features: ▸ Private-equity inspired market design ▸ Oracle protection with mark bands ▸ Roughly $30M in cumulative volume ... ➤ @felixprotocol Felix brings stock and crypto-equity perps on-chain using $USDH as collateral. Live assets: ▸ TSLA ▸ $COIN ▸ $CRCL Key features: ▸ Equity and crypto-equity listings ▸ Up to 5x leverage ▸ Discounted fees with USDH ▸ Roughly $93M in cumulative volume ... ➤ @hyenatrade HyENA is a $USDe-margined HIP-3 deployer that turns trading collateral into a yield-bearing asset built by @BasedOneX and @ethena. Live assets: ▸ $BTC ▸ $ETH ▸ $SOL Key features: ▸ USDe margin earning native yield ▸ HLPe vault combining basis yield and market-making returns by @upshift_fi ▸ Six-month points program ▸ Growing traction as a new entrant — ► Why this matters Equities and HIP-3 are quietly carving out a bigger slice of the main perps market like BTC and ETH, as highlighted in @artemis's report: - Launched with $24M (0.25% of perp volume) - Soared to a $514M (8% ) peak - Holding strong at a ~5% share HIP-3 transforms Hyperliquid from a curated exchange into a groundbreaking "market factory" or "exchange-of-exchanges." Think of it as the "AWS of liquidity," where shared infrastructure slashes costs and speeds up innovation. This evolution enables 24/7/365 trustless tokenized indices and stocks on-chain. Hyperliquid. h/t for @hyperzap_io dedicated HIP-3 dashboard

To stay up to date with HIP-3 markets and stats, make sure to check hyperzap.io/hip3 dashboard made by @0xLoris!

Got the time to finally test out @hyperzap_io's new hip-3 dashboard. Checked out the hip-3 ecosystem in the last 24hrs and volumes are looking pretty interesting and less gamed than before: > $499.45M trading vol in the last 24hrs > 4k unique traders and $35k in trading fees collected. Majority of this volume is driven by @tradexyz via its flagship asset which also doubles as the first listed hip-3 perp, #XYZ100. This could be due to several reasons which I assume majorly to be a combination of first mover advantage, distribution and market maturity as they're controlled by the @unitxyz team and airdrop speculation. The dashboard is currently also tracking @felixprotocol , @ventuals and hyena, @ethena's hip-3 frontend. Hopefully with time we see newer integrations as they go live like kinetiq's markets and others. Feeling quite optimistic on hip-3

Incredible month for @tradexyz (11/1-11/30) ➜ Oct. $504M to Nov. $4.11B volume ➜ Average daily volume ~$120M ➜ Highest 24hr volume ~$515.74M ➜ 9 new markets; $NVDA, $GOOGL, $TSLA, $PLTR, $AMZN, $META, $MSFT, $AAPL, $COIN

Very nice HIP-3 analytics dashboard here

$1B volume day inbound. Hyperliquid users are the best early adopters onchain today. Source: hyperzap.io

Amazing work from @0xLoris and the @hyperzap_io team tracking all HIP-3 market data. Definitely a very useful website, link below 👇

x.com/hyperzap_io/status/199… @hyperzap_io @0xLoris nice work guys. Lots of good stats here HIP-3, unsurprisingly, has been a great success so far. Expecting growth to continue to accelerate House of all finance Hyperliquid

New: HIP3 Stats Dashboard See real-time stats (updated hourly) broken down by DEX and by Symbol, for @tradexyz & @felixprotocol & @ventuals - Volume - Unique Traders - Fees Collected - Trades Count - USDC vs USDH And more. Link: hyperzap.io/hip3

⚡️New Hyperzap Tool: Revoke Token Approvals This is the quickest, safest way to revoke token approvals on HyperEVM. Token approvals let smart contracts spend your tokens. Unlimited approvals pose security risks: if a contract is compromised or malicious, it can drain your entire token balance. Regularly revoking unused approvals reduces your exposure to potential exploits and hacks. hyperzap.io/approvals