PANews reported on November 19th that, according to CoinDesk, the on-chain decentralized exchange Hyperliquid has launched a new feature allowing anyone to deploy new markets permissionlessly and at extremely low fees, aiming to improve liquidity and incentivize new market makers. This upgrade, known as the "HIP-3 Growth Mode," reduces overall order book fees for newly launched markets by over 90%. Deployers do not require centralized verification and can activate markets permissionlessly on a per-asset basis. Essentially, this upgrade lowers the entry barrier and transaction costs, aiming to enhance Hyperliquid's liquidity, expand asset supply, and solidify its position as a competitor to centralized channels.

To qualify, deployers must set the transaction fee percentage (the portion of user transaction fees retained before any discounts) between 0 and 1. Additionally, growth model markets must avoid overlapping with existing validator-operated perpetual contracts to prevent "parasitic" trading volume and must be entirely different assets. Once a growth model is activated for an asset, it must be locked for 30 days before any changes can be made to ensure market stability.