Hyperliquid

Hyperliquid has recently reached several milestones with long-term significance. At the protocol level, HIP-4 has been implemented, with the first Outcome DEX "OUT" deployed on this standard, advancing the integration of prediction markets and perpetual contracts; HIP-3 enables permissionless perpetual market creation, allowing developers to stake 500,000 HYPE to deploy markets independently. On the ecosystem front, Kinetiq launched Elysium L2 based on Hyperliquid, while Linera announced minute-level prediction markets targeting Hyperliquid. Compliance is another key direction: Trump publicly stated that the CFTC chairman is pushing to bring Hyperliquid to the United States, and research suggests it may enter the U.S. compliant market through a licensed HIP-3 DEX, potentially intensifying competition with platforms like Coinbase. In tokenomics, Hyperliquid introduced a USDC yield mechanism, using protocol revenue to repurchase and burn HYPE. Coinbase has introduced perpetual contracts through Hyperliquid in its Base app, supporting up to 50x leverage; Zhao Changpeng also noted that if Hyperliquid enters the U.S. or opens market space for more decentralized products, it would be a significant boost for the entire cryptocurrency industry.