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DeployStart here1 page
Start here: deploying marketsFoundationWhere a market deployer sits in the house, what you stake, operate and earn under HIP-1, HIP-3 and HIP-4, and a reading order from the standards to running a venue.
DeployThe HIPs6 pages
What a HIP isFoundationA HIP (Hyperliquid Improvement Proposal) lets anyone deploy one kind of market on HyperCore, paid for by auction or backed by a slashable HYPE stake.HIP-1: native token standardPractitionerHIP-1 is the native token standard: a capped-supply token born with a USDC spot order book, paid for through a 31-hour Dutch auction in HYPE.HIP-2: HyperliquidityPractitionerHIP-2, Hyperliquidity, is a market-making strategy built into HyperCore that quotes a new HIP-1 token against USDC on a fixed ladder of 0.3 per cent steps.HIP-3: builder-deployed perpetualsPractitionerHIP-3 lets anyone staking 500k HYPE run a perp dex on HyperCore and publish its oracle, the stake slashed and burned if the deployer's inputs harm the protocol.HIP-4: outcome marketsPractitionerHIP-4 lets a staked deployer list fully collateralised contracts settling between 0 and 1, built from validator-approved templates, which it then settles.How the HIPs composeExpertThe hlPerp keyword lets a HIP-4 band price off any HIP-3 perp, even one its deployer does not own, joining free oracles to bounded payoffs.
DeployDeploy markets7 pages
Deploying a spot token (HIP-1 and HIP-2)ExpertA HIP-1 token deploys in 5 spotDeploy actions: win the gas auction, set genesis balances, fix the supply, register the USDC pair, configure Hyperliquidity.Deploying a perp dex (HIP-3)ExpertA HIP-3 perp dex is created by one signed registerAsset2 action with a non-null schema, from an account with 500k HYPE in its own staking account.Operating a perp dex: oracles, caps, halts and allowlistsExpertRunning a HIP-3 dex means pushing prices every 3 seconds, never faster than every 2.5, and managing caps, funding, margin, fees, halts and sub-deployers.Becoming an outcome deployer (HIP-4)ExpertAn outcome deployer is a Standard-mode account with 500k HYPE in its own staking account that has irreversibly claimed a venue with activateOutcomeDeployer.Outcome templates and keywordsExpertEvery deployer-created HIP-4 market fills a validator-voted template that fixes its wording, side names and typed keywords, one value per keyword.Settling outcomesExpertA deployer settles its outcomes with settleOutcome or settleQuestion2, copying names exactly from outcomeMeta; settled outcomes are pruned but stay readable.Deployer economics and riskExpertA deployer earns a fee share against 500k HYPE locked at least 183 days, slashable and burned, in its own account, which a multi-sig quorum can control.
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TradeMarkets, margin and risk
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Start here: deploying markets

Foundation

Where a market deployer sits in the house, what you stake, operate and earn under HIP-1, HIP-3 and HIP-4, and a reading order from the standards to running a venue.

Where you are

Section titled “Where you are”
HyperBFT consensus HyperCore order books, margin, matching precompiles CoreWriter HyperEVM EVM contracts, same chain Accounts and risk margin modes, sub-accounts, multi-sig, API wallets 01 Spot currency HIP-1, HIP-2 02 Perps futures, swaps HIP-3 03 Outcomes options, insurance HIP-4 04 Lending money markets borrow, earn 05 Vaults funds HLP 06 Staking regulatory capital HYPE Builder codes fee share for apps Referrals fee share for referrers Fee tiers volume lowers fees Deployers new markets, shared fees Hyperliquid the interface layer and everything else within the stack 01 Consensus 02 Execution 03 Accounts 04 Primitives 05 Distribution 06 Interface HyperBFT consensus HyperCore matching engine read write HyperEVM EVM contracts Accounts and risk margin modes, sub-accounts, multi-sig, API wallets 01 Spot currency HIP-1, HIP-2 02 Perps futures, swaps HIP-3 03 Outcomes options, insurance HIP-4 04 Lending money markets borrow, earn 05 Vaults funds HLP 06 Staking regulatory capital HYPE Builder codes fee share for apps Referrals fee share for referrers Fee tiers volume lowers fees Deployers new markets, shared fees Hyperliquid the interface layer and everything else within the stack Consensus Execution Accounts Primitives Distribution Interface
You are hereA deployer sits on the distribution floor and builds into the pillars below: a perp dex, outcome markets or a token, bonded by a HYPE stake.

You sit on the distribution floor and bring markets: a perp dex under HIP-3, outcomes under HIP-4, or a token under HIP-1. You share their fees and bond them with a HYPE stake. A deployer need not be a front end; some run from automated infrastructure.

What that means for you

Section titled “What that means for you”
  • Listing is a rule. Meet the stake or win the auction, send the actions, and the market exists.
  • Capital and a duty. 500,000 HYPE for HIP-3 or HIP-4, locked at least 183 days. You publish prices or settle outcomes.
  • The stake is at risk. Under HIP-3, validators can slash it if your inputs harm the protocol. Slashed stake is burned.
  • You earn fees. HIP-3: a share of 0 to 300%. HIP-4: a scale of 0 to 10.

What you touch

Section titled “What you touch”
1Stake500,000 HYPE for HIP-3 or HIP-4, delegated or not, locked at least 183 days.2RegisterA dex and its assets, a venue and its outcomes, or a token through the HIP-1 auction.3OperatePublish oracle prices, set caps and halts, or resolve outcomes when the event is known.4EarnYour fee share on every fill in your markets, set per asset.5Get distributedFront ends list your markets and route orders to them, earning through builder codes.

What you use

Section titled “What you use”
You want to Use Start with
Run a perp dex perpDeploy actions on the exchange endpoint; perpDeployAuctionStatus on the info endpoint Deploying a perp dex
Run outcome markets outcomeDeploy actions under your venue; outcomeDeployerLimits to check capacity Becoming an outcome deployer
Launch a token spotDeploy actions through the HIP-1 gas auction, optionally with HIP-2 liquidity Deploying a spot token
Hold the stake safely A multi-sig account, which can own the deployer account Multi-sig accounts

Deployer actions are signed like any other; see signing.

What to read, in order

Section titled “What to read, in order”

The standards

Section titled “The standards”
What a HIP isFoundationA HIP (Hyperliquid Improvement Proposal) lets anyone deploy one kind of market on HyperCore, paid for by auction or backed by a slashable HYPE stake.HIP-3: builder-deployed perpetualsPractitionerHIP-3 lets anyone staking 500k HYPE run a perp dex on HyperCore and publish its oracle, the stake slashed and burned if the deployer's inputs harm the protocol.HIP-4: outcome marketsPractitionerHIP-4 lets a staked deployer list fully collateralised contracts settling between 0 and 1, built from validator-approved templates, which it then settles.HIP-1: native token standardPractitionerHIP-1 is the native token standard: a capped-supply token born with a USDC spot order book, paid for through a 31-hour Dutch auction in HYPE.HIP-2: HyperliquidityPractitionerHIP-2, Hyperliquidity, is a market-making strategy built into HyperCore that quotes a new HIP-1 token against USDC on a fixed ladder of 0.3 per cent steps.How the HIPs composeExpertThe hlPerp keyword lets a HIP-4 band price off any HIP-3 perp, even one its deployer does not own, joining free oracles to bounded payoffs.

Deciding

Section titled “Deciding”
Deployer economics and riskExpertA deployer earns a fee share against 500k HYPE locked at least 183 days, slashable and burned, in its own account, which a multi-sig quorum can control.Contract specificationsPractitionerEvery Hyperliquid perp is a linear contract on 1 unit of its asset, defined by size decimals, maximum leverage, a margin table and a margin mode.Oracles, mark prices and robust price indicesPractitionerValidators publish perp oracle prices every 3 seconds; the mark price used for margin and liquidation is a median that no single book or venue can move.

Deploying and running

Section titled “Deploying and running”
Deploying a perp dex (HIP-3)ExpertA HIP-3 perp dex is created by one signed registerAsset2 action with a non-null schema, from an account with 500k HYPE in its own staking account.Operating a perp dex: oracles, caps, halts and allowlistsExpertRunning a HIP-3 dex means pushing prices every 3 seconds, never faster than every 2.5, and managing caps, funding, margin, fees, halts and sub-deployers.Becoming an outcome deployer (HIP-4)ExpertAn outcome deployer is a Standard-mode account with 500k HYPE in its own staking account that has irreversibly claimed a venue with activateOutcomeDeployer.Outcome templates and keywordsExpertEvery deployer-created HIP-4 market fills a validator-voted template that fixes its wording, side names and typed keywords, one value per keyword.Settling outcomesExpertA deployer settles its outcomes with settleOutcome or settleQuestion2, copying names exactly from outcomeMeta; settled outcomes are pruned but stay readable.Deploying a spot token (HIP-1 and HIP-2)ExpertA HIP-1 token deploys in 5 spotDeploy actions: win the gas auction, set genesis balances, fix the supply, register the USDC pair, configure Hyperliquidity.