Fees Near Zero? Hyperliquid’s HIP-3 Sets the Stage for a Market Explosion

Hyperliquid has rolled out a fresh upgrade that gives its ecosystem a new set of tools to push market expansion, cut trading costs, and open the doors to more experimental assets.

The new feature, called HIP-3 growth mode, is designed to let anyone spin up new markets with dramatically reduced taker fees, no approvals, no gatekeepers, and no waiting around for validators to decide what gets listed.

Lower fees, new markets, and a push for more liquidity

At the center of HIP-3 is a major reduction in taker fees for newly deployed markets. Instead of the standard 0.045% fee structure, these growth mode listings can operate at a steeply reduced cost of 0.0045% to 0.009%.

Traders who hit higher staking and volume brackets may see fees drop even further, with levels that come in at a fraction of a basis point.

The idea is: cheaper trades attract order flow, and order flow helps bootstrap liquidity in places that typically struggle to gain traction on on-chain exchanges.

Hyperliquid describes it as lowering the barriers for deployers who want to bring niche or less-explored assets to market, while giving traders a cost-friendly environment to test new products.

Deployers opting into HIP-3 must set a fee scale, which determines what portion of user trading fees they retain before discounts kick in. They also need to ensure their market isn’t a duplicate of a validator-operated perpetual.

That rules out assets like crypto index perps, ETF lookalikes, or anything closely tied to an already running listing. Once enabled, growth mode remains locked for 30 days, preventing constant tinkering and providing a consistent environment for traders and makers.

Community response and impact on DeFi derivatives

The broader goal of growth mode is to expand Hyperliquid’s catalog in a way that mirrors the experimental nature of crypto while still keeping markets orderly.

Real-world assets, commodities, and more unusual on-chain products may now find their way onto the platform without the bottleneck of centralized decision-making.

Following the announcement, users highlighted how this shift could accelerate the number of permissionless markets and encourage tighter spreads as competition increases.

One user framed it as “a turbo-boost for innovation,” hinting that the lower fee model could bring fresh volume to markets that previously lacked sufficient depth.

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