Hyperliquid HIP-3 Growth Mode Slashes Perpetual Swap Fees by 90%
Hyperliquid has launched its HIP-3 Growth Mode on November 19, enabling permissionless deployment of new perpetual swap markets by builders staking 500,000 HYPE. The upgrade slashes taker fees by over 90%, from 0.045% to as low as 0.00144% for top-tier volumes, and to 0.0045–0.009% on standard tiers, with matched rebate cuts. Growth Mode is opt-in per asset, excludes Bitcoin and existing markets, and allows validators to disable non-compliant markets. Since March, daily user counts and open interest have climbed despite October volatility. Traders gain tighter spreads, deeper liquidity, and wider market choice. Analysts expect higher demand for HYPE as volumes grow. The HIP-3 upgrade underscores Hyperliquid’s low-fee perpetual swap derivatives strategy.
Bullish
Hyperliquid’s 90% fee cut and permissionless HIP-3 Growth Mode are designed to draw traders and market makers to its perpetual swap platform. In the short term, lower taker fees and expanded market listings could boost trading volumes and open interest, driving immediate demand for HYPE tokens required for market deployment. Over the long term, sustained higher liquidity and diversified revenue streams may strengthen Hyperliquid’s competitive position in decentralized derivatives, further increasing staking and utility of HYPE. These factors collectively support a bullish outlook on the token’s price trajectory as trading activity and token demand grow.