TechFlow News: On January 27, according to The Block, Hyperliquid announced that its HIP-3-deployed decentralized exchange (DEX) has achieved a record-high open interest of over $790 million, primarily driven by surging commodity trading activity. CEO Jeff Yan stated that Hyperliquid has become “the most liquid venue for crypto price discovery,” with its BTC perpetual contract spreads tighter than those on Binance. The HIP-3 protocol, introduced in October last year, features “Builder-Deployed Perpetuals,” enabling qualified developers to deploy their own perpetual futures markets. Currently, TradeXYZ is the largest HIP-3 DEX, with a daily trading volume of approximately $22 billion—accounting for 90% of the total market share.
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