Hyperliquid 的大胆举措：无需许可的现货列表和 HIP-3 升级

Hyperliquid 通过无需许可的现货列表和 HIP-3 升级震撼了 DeFi，为用户和开发人员提供了支持。这是加密货币交易所的未来吗？

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

Hyperliquid 的大胆举措：无需许可的现货列表和 HIP-3 升级

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 以其无需许可的现货列表和 HIP-3 升级而引起轰动。这一大胆的举措旨在通过赋予用户和开发者权力来彻底改变 DeFi，但挑战仍然存在。这是内幕。

No Gatekeepers Anymore

不再有看门人

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.

继 HIP-3 升级之后，Hyperliquid 已正式推出无需许可的现货列表。在X上，Hyperliquid表示，“在Hyperliquid上，没有上市费用，没有上市部门，也没有看门人。”现在，任何人都可以通过在 HYPE 中支付 Gas 来启动现货资产。部署者甚至可以从现货对中赚取高达 50% 的交易费用。这一切都与透明度和链上可审计性有关。

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，添加新的现货对需要经过审查。现在，如果您满足链上规则并在 HYPE 中支付 Gas 费用，那么您就可以开始了。稳定币和代币项目可以使他们的代币成为报价资产，从而产生新的现货对。 USDH 成为第一个无需许可的报价资产，启用了 HYPE/USDH 市场。

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升级允许开发者无需授权即可创建永续期货市场。这一去中心化的举措旨在培育一个更加开放和易于访问的 DeFi 生态系统。

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.

为了部署市场，每个部署者在 HyperCore 上投入 500,000 个 HYPE 代币，目前价值约为 2100 万美元。这一要求过滤掉机会主义项目，促进分布式治理。

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 上涨 6.2%，达到 40.76 美元，超过了更广泛的加密货币市场 1.71% 的涨幅。这一跳跃是由鲸鱼活动、HIP-3 升级动力和技术支持推动的。

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 投资了 197,000 USDC，并以 10 倍杠杆在 HYPE 上开仓 28,000 美元，引起关注并引发抢购。 HIP-3 升级要求建筑商在每个市场投入 500,000 HYPE，这可能会锁定供应并支撑价格。

Challenges and Opportunities

挑战与机遇

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.

虽然超流动性推动权力下放，但挑战仍然存在。一名交易员最近因私钥泄露而损失了 2100 万美元，凸显了其中的风险。 2025 年 10 月 11 日的崩盘导致 103 亿美元的头寸蒸发，引发了人们对平台稳健性的质疑。

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.

这些事件强调了谨慎的必要性，但 Hyperliquid 对完全去中心化的押注反映了开放生态系统优于中心化控制的信念。

The Road Ahead

未来之路

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 的无需许可的方法可以重塑 DeFi 中的代币上市和交易，使其无缝、开放和透明。持续采用和市场使用对于长期成功至关重要。 Hyperliquid 能否应对加密货币市场风暴？

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!

那么，要点是什么？超液体正在突破界限，但请记住，能力越大，责任越大——也许还有一点波动。系好安全带，加密货币爱好者，这将是一次有趣的旅程！