Hyperliquid's Future: HIP-3 and HyperStone

Author: Yue Xiaoyu

Hyperliquid's future lies in HIP-3, and the foundation of HIP-3 lies in HyperStone.

1️⃣ Hyperliquid isn't just building an on-chain contract exchange—it's constructing an ecosystem, which is what gives it real upside potential.

RWA trends are surging: U.S. Treasuries onchain, U.S. stocks onchain—everything can be tokenized.

But Hyperliquid alone can't build or absorb all these markets, so leveraging the ecosystem becomes essential.

On October 13, 2025, HIP-3 launched on mainnet, achieving fully decentralized perpetual listing.

From that day forward, Hyperliquid ceased to be a permissioned exchange and became an open platform where anyone could launch their own market by staking 1 million HYPE.

In short, Hyperliquid has opened up listing rights to the community.

2️⃣ At this point, when everyone wants to bring various assets onchain, what core problem arises?

It’s price.

Unlike native Hyperliquid markets, which rely on validator consensus for pricing, HIP-3 markets entirely depend on external oracles for price data.

This demands extremely high accuracy and real-time performance from the data.

Thus, oracles become the most critical infrastructure.

3️⃣ This brings us to a key player in this space: RedStone.

RedStone dominated 99.5% of the oracle market since HyperEVM's inception and serves as the official price feed provider for Hyperliquid's native stablecoin USDH.

Leveraging this, RedStone developed HyperStone—an optimized modular oracle architecture tailored specifically for HIP-3.

It is the first oracle designed exclusively for HIP-3.

HyperStone enables builders to launch perpetual contracts on virtually any asset—from cryptocurrencies to tokenized stocks (like TSLA), real-world assets (RWA), and even economic indicators.

For example, if you want to create a Tesla stock perpetual contract, HyperStone tells you every 3 milliseconds: how much Tesla is trading for in the U.S. stock market right now.

Put simply, without HyperStone, HIP-3 would be an empty city.

4️⃣ Where is Hyperliquid's moat?

Not in trading volume or fees, but in the people who can build markets—and the precision and speed of price feeds.

Hyperliquid is transitioning from being centrally team-driven to a decentralized trading network.

And every heartbeat of this network comes from HyperStone’s 3-millisecond pulse.

This is why we say Hyperliquid's future lies in HIP-3, and HIP-3’s foundation lies in HyperStone.

For a detailed breakdown of @redstone_defi, see the mind map above ⬆️