Hyperliquid Unveils HIP-3 Composable DeFi Hub with 20+ Projects and Over $3B TVL
Hyperliquid has launched its HIP-3 upgrade, evolving from a perpetual DEX into a permissionless, composable DeFi hub. The HIP-3 framework supports over 20 projects across trading frontends, liquidity staking, lending and tokenized spot and perpetual contracts markets. Perpetual contracts frontends include Based (≈$35M daily volume) and Liquid (mobile-first, 100× leverage). Leading protocols by TVL are Kinetiq ($1.9B, kHYPE staking), Unit ($831M, BTC, ETH, SOL and US equity perpetuals) and Felix ($300M, feUSD lending). Additional innovations span Ventuals pre-IPO perpetuals, Volmex volatility indices, Hyperbolic commodity perpetuals and Global Compute Index on-chain compute contracts. With TVL exceeding $3B, HIP-3 cements Hyperliquid’s position as a Solana-based composable DeFi hub and unlocks new perpetual contract use cases.
Bullish
Hyperliquid’s HIP-3 upgrade enhances platform utility by enabling permissionless, composable DeFi with diverse perpetual contract markets and attracts TVL. In the short term, the launch of new frontends and protocols like Based, Liquid, Kinetiq and Unit can drive trading volumes and liquidity, supporting HYPE token demand. Over the long term, expanding use cases across equities, commodities, compute contracts and AI infrastructure strengthens network effects, boosts protocol adoption and solidifies Hyperliquid’s role in the Solana ecosystem. This growth outlook for perpetual contracts and increasing TVL underpins a bullish outlook for Hyperliquid’s native token.