HIP-3 and HIP-4: what Hyperliquid documents now
A current-source guide to builder-deployed perp DEXs, testnet outcome assets, and the checks that matter before you use vault data.
Builder-deployed perp DEXs
A qualifying deployer defines and operates markets that use HyperCore order books and margining.
Testnet-only in official docs
The current spot info documentation labels outcomeMeta testnet-only. We do not infer a mainnet date.
HIP-3 and outcome assets at a glance
| Decision field | HIP-3 | Outcomes / “HIP-4” search term |
|---|---|---|
| Official surface | Standalone HIP-3 builder-deployed perpetuals specification. | Current developer documentation for outcome asset IDs and outcomeMeta; no standalone HIP-4 spec in the current HIP index. |
| Documented status | Current mainnet framework with deployer requirements and operational controls. | The current spot info endpoint labels outcome metadata testnet-only. |
| Market structure | A deployer operates a perp DEX with independent markets and settings on HyperCore. | Each outcome has two valid sides and a representation distinct from spot and perp assets. |
| What is not safe to infer | Specific vault exposure, liquidity, fee income, or return impact. | Mainnet timing, settlement asset, margin behavior, fee routing, or vault support beyond current docs. |
The table separates current official documentation from market commentary. It is not a performance forecast.
What HIP-3 actually specifies
Hyperliquid's HIP-3 specification lets a qualifying deployer run one builder-deployed perp DEX. The deployer is responsible for market definition and operation; execution uses HyperCore order books and margining.
- Current stake. The specification currently states a 500,000 HYPE mainnet requirement and says that requirement is expected to decrease as the system matures.
- Market allocation. The first three assets do not require an auction. Additional assets use the documented Dutch-auction process.
- Operational responsibility. The deployer controls market configuration and oracle-related operation within protocol limits. Slashing rules make this responsibility economically material.
- Independent risk surface. Each perp DEX has its own order books and settings. Current metadata exposes state such as universe, open-interest caps, oracle information, and market status.
- Fees must be checked live. Current fee documentation describes deployer fee controls and community-directed fees. It does not justify converting a market launch into an HLP return claim.
What the current outcomes docs say
People search for “HIP-4” when they mean Hyperliquid outcome contracts. The current official evidence is narrower than many explainers imply:
- The asset-ID documentation says an outcome has two valid sides and uses a separate API representation.
- The spot info endpoint currently labels
outcomeMetatestnet-only. - The current HIP index does not provide a standalone HIP-4 specification with durable mainnet, margin, settlement, or fee rules.
That is enough to describe the current API surface. It is not enough to promise a rollout date, name a settlement asset, assume common margin treatment, or model outcome-contract revenue for HLP.
What vault depositors should verify
VaultVision is a Hyperliquid vault scanner, not an outcome-trading venue. It helps you inspect live vault state without pretending that a protocol narrative is a deposit recommendation.
- Open positions. Identify the actual markets and direction of exposure instead of relying on the vault name.
- Liquidity and oracle risk. For builder-deployed perps, check the perp DEX, order-book depth, oracle design, market status, and caps.
- Drawdown before APR. Compare current drawdown, risk score, TVL, and return windows. Historical returns do not validate a new market regime.
- Deposit state and entry quality. Confirm that deposits are open and whether present exposure creates a poor entry.
- HLP separately. Do not infer that HLP owns a specific HIP-3 or outcome exposure. Inspect the current HLP page and current positions.
FAQ
What is HIP-3 on Hyperliquid?
HIP-3 is the official framework for builder-deployed perpetual DEXs. A qualifying deployer defines and operates markets while using HyperCore order books and margining.
How much HYPE does HIP-3 currently require?
The current official specification states 500,000 HYPE on mainnet and notes that the requirement is expected to decrease as infrastructure matures.
Is HIP-4 live on Hyperliquid mainnet?
The current official spot API documentation labels outcome metadata testnet-only. This page does not claim a mainnet date or production availability.
Do HIP-3 or outcome markets automatically increase HLP returns?
No. Protocol mechanics do not prove a specific HLP position, fee contribution, or return. Verify current HLP positions, flows, drawdown, and performance data.
Can VaultVision execute HIP-3 or outcome trades?
No. VaultVision provides vault rankings, risk, drawdown, positions, flows, and alerts for manual research. It does not promise automated execution or outcome trading.
Related research
- Hyperliquid vault scanner — compare live vault state and deposit availability.
- Hyperliquid vault risk rankings — evaluate published risk dimensions.
- How HLP works — HLP mechanics and current-data boundaries.
- VaultVision risk score formula — the actual Risk Engine v2 inputs.
- How to choose a Hyperliquid vault — a deposit checklist.