Hyperliquid 的大膽舉措：無需許可的現貨列表和 HIP-3 升級

Hyperliquid 通過無需許可的現貨列表和 HIP-3 升級震撼了 DeFi，為用戶和開發人員提供了支持。這是加密貨幣交易所的未來嗎？

Hyperliquid's Bold Move: Permissionless Spot Listings and the HIP-3 Upgrade

Hyperliquid 的大膽舉措：無需許可的現貨列表和 HIP-3 升級

Hyperliquid is making waves with its permissionless spot listings and HIP-3 upgrade. This bold step aims to revolutionize DeFi by empowering users and developers, but challenges remain. Here's the lowdown.

Hyperliquid 以其無需許可的現貨列表和 HIP-3 升級而引起轟動。這一大膽的舉措旨在通過賦予用戶和開發者權力來徹底改變 DeFi，但挑戰仍然存在。這是內幕。

No Gatekeepers Anymore

不再有看門人

Hyperliquid has officially launched permissionless spot listings, following the HIP-3 upgrade. On X, Hyperliquid stated, “On Hyperliquid, there is no listing fee, no listing department, and no gatekeepers.” Now, anyone can launch a spot asset by paying gas in HYPE. Deployers can even earn up to 50% of trading fees from their spot pairs. It's all about transparency and on-chain auditability.

繼 HIP-3 升級之後，Hyperliquid 已正式推出無需許可的現貨列表。在X上，Hyperliquid表示，“在Hyperliquid上，沒有上市費用，沒有上市部門，也沒有看門人。”現在，任何人都可以通過在 HYPE 中支付 Gas 來啟動現貨資產。部署者甚至可以從現貨對中賺取高達 50% 的交易費用。這一切都與透明度和鏈上可審計性有關。

Previously, adding new spot pairs required vetting. Now, if you meet the on-chain rules and pay gas in HYPE, you're good to go. Stablecoins and token projects can make their token a quote asset, leading to new spot pairs. USDH became the first permissionless quote asset, enabling a HYPE/USDH market.

以前，添加新的現貨對需要經過審查。現在，如果您滿足鏈上規則並在 HYPE 中支付 Gas 費用，那麼您就可以開始了。穩定幣和代幣項目可以使他們的代幣成為報價資產，從而產生新的現貨對。 USDH 成為第一個無需許可的報價資產，啟用了 HYPE/USDH 市場。

HIP-3: A Decentralization Revolution

HIP-3：去中心化革命

The HIP-3 upgrade allows developers to create perpetual futures markets without authorization. This move towards decentralization aims to foster a more open and accessible DeFi ecosystem.

HIP-3升級允許開發者無需授權即可創建永續期貨市場。這一去中心化的舉措旨在培育一個更加開放和易於訪問的 DeFi 生態系統。

To deploy a market, each deployer stakes 500,000 HYPE tokens on HyperCore, currently valued at around $21 million. This requirement filters out opportunistic projects, promoting distributed governance.

為了部署市場，每個部署者在 HyperCore 上投入 500,000 個 HYPE 代幣，目前價值約為 2100 萬美元。這一要求過濾掉機會主義項目，促進分佈式治理。

HYPE's Wild Ride

HYPE 的狂野之旅

HYPE experienced a 6.2% surge, hitting $40.76, outpacing the broader crypto market's 1.71% gain. This jump was fueled by whale activity, HIP-3 upgrade momentum, and technical support.

HYPE 上漲 6.2%，達到 40.76 美元，超過了更廣泛的加密貨幣市場 1.71% 的漲幅。這一跳躍是由鯨魚活動、HIP-3 升級動力和技術支持推動的。

Whale James Wynn invested 197,000 USDC and opened a $28,000 long on HYPE with 10x leverage, grabbing attention and sparking a rush. The HIP-3 upgrade requires builders to stake 500,000 HYPE per market, potentially locking up the supply and supporting prices.

Whale James Wynn 投資了 197,000 USDC，並以 10 倍槓桿在 HYPE 上開倉 28,000 美元，引起關注並引發搶購。 HIP-3 升級要求建築商在每個市場投入 500,000 HYPE，這可能會鎖定供應並支撐價格。

Challenges and Opportunities

挑戰與機遇

While Hyperliquid pushes decentralization, challenges remain. A trader recently lost $21 million due to a private key leak, highlighting the risks. A crash on October 11, 2025, saw $10.3 billion in wiped positions, raising questions about platform robustness.

雖然超流動性推動權力下放，但挑戰仍然存在。一名交易員最近因私鑰洩露而損失了 2100 萬美元，凸顯了其中的風險。 2025 年 10 月 11 日的崩盤導致 103 億美元的頭寸蒸發，引發了人們對平台穩健性的質疑。

These incidents underscore the need for caution, but Hyperliquid's bet on total decentralization reflects the belief that an open ecosystem is superior to centralized control.

這些事件強調了謹慎的必要性，但 Hyperliquid 對完全去中心化的押注反映了開放生態系統優於中心化控制的信念。

The Road Ahead

未來之路

Hyperliquid's permissionless approach could reshape token listing and trading in DeFi, making it seamless, open, and transparent. Sustained adoption and market usage are crucial for long-term success. Can Hyperliquid handle the crypto market storms?

Hyperliquid 的無需許可的方法可以重塑 DeFi 中的代幣上市和交易，使其無縫、開放和透明。持續採用和市場使用對於長期成功至關重要。 Hyperliquid 能否應對加密貨幣市場風暴？

So, what's the takeaway? Hyperliquid is pushing boundaries, but remember, with great power comes great responsibility—and maybe a little bit of volatility. Buckle up, crypto enthusiasts, it's going to be an interesting ride!

那麼，要點是什麼？超液體正在突破界限，但請記住，能力越大，責任越大——也許還有一點波動。係好安全帶，加密貨幣愛好者，這將是一次有趣的旅程！