# HIP-3 Mainnet Unlocks Permissionless Decentralized Equity Perpetual Futures Markets ∞ Web3

**Published:** 2025-10-17
**Categories:** Web3

---

![A precision-engineered mechanical component, possibly a rotor or gear, is partially enveloped by a dynamic, translucent blue fluid. The fluid exhibits turbulent motion, suggesting high-velocity flow and interaction with the component's intricate structure](https://incrypthos.com/wp-content/uploads/2025/09/optimized-defi-liquidity-flow-enhancing-blockchain-protocol-throughput.jpeg)

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## Briefing

The HIP-3 protocol has successfully transitioned to mainnet, establishing a framework for the permissionless deployment of decentralized [perpetual futures markets](https://incrypthos.com/news/perpetual-futures-markets/) and immediately unlocking a new asset class ∞ on-chain equity perpetuals. This upgrade fundamentally alters the application layer’s ability to offer synthetic real-world asset exposure, moving beyond simple tokenization to a high-leverage derivatives environment. The primary consequence is the rapid acceleration of builder adoption, exemplified by the flagship UNIT XYZ100 index product, which recorded an initial daily trading volume of $24.1 million , significantly outpacing the typical weekly volume for tokenized spot equities.

![A complex mechanical device features polished silver components, dark black tubing, and bright electric blue glowing elements, set against a muted grey background. The intricate machinery is densely packed, with various conduits and structural elements converging around the central glowing core, suggesting an advanced technological engine](https://incrypthos.com/wp-content/uploads/2025/09/dlt-network-infrastructure-cryptographic-primitives-execution-module.jpeg)

## Context

Prior to this launch, the on-chain synthetic asset landscape was characterized by low liquidity and high user friction, primarily confined to basic tokenized spot assets or complex, centralized issuance models. The prevailing product gap was the absence of a truly [decentralized](https://incrypthos.com/news/decentralized/), capital-efficient, and permissionless framework for creating and trading synthetic derivatives on a diverse range of underlying assets, especially non-crypto assets like equities. This lack of a robust, high-velocity derivatives layer meant that capital seeking exposure to real-world indices was forced off-chain, limiting the composability and scale of the decentralized finance (DeFi) ecosystem.

![A striking close-up reveals a futuristic, translucent cubic object, featuring metallic panels and a prominent stylized symbol on its faces. The internal structure shows intricate, glowing blue circuitry, set against a softly blurred, dark blue background](https://incrypthos.com/wp-content/uploads/2025/09/digital-asset-tokenization-block-cryptographic-security-protocol.jpeg)

## Analysis

HIP-3 alters the [derivatives](https://incrypthos.com/news/derivatives/) system by shifting the focus from a single, centralized exchange model to a permissionless factory for perpetual markets. The core system change is the introduction of a universal framework that allows any builder to deploy a new perpetual market with customizable parameters, including funding rates, margin requirements, and oracle feeds. This cause-and-effect chain is clear ∞ the permissionless nature lowers the barrier to entry for market creation, which attracts specialized builders like UNIT and Ventuals. This, in turn, provides end-users with access to novel, high-demand products such as the XYZ100 index and synthetic private company valuations (vHYPE).

The immediate volume traction, with the XYZ100 index surpassing $20 million in daily volume, validates the market’s demand for decentralized, high-leverage exposure to traditional finance assets. Competing protocols relying on a centralized or gated market creation process will now face pressure to adopt a similar permissionless [architecture](https://incrypthos.com/news/architecture/) to maintain their competitive moat in the derivatives vertical.

![A large, irregularly shaped white object with a rough texture stands partially submerged in rippling blue water. Next to it, a substantial dark blue circular object with horizontal ridges is also partially submerged, reflecting in the water](https://incrypthos.com/wp-content/uploads/2025/09/immutable-protocol-foundations-guiding-decentralized-finance-flows.jpeg)

## Parameters

- **Initial Daily Volume** ∞ $24.1 Million ∞ The peak daily [trading volume](https://incrypthos.com/news/trading-volume/) recorded by the UNIT XYZ100 index, a new product enabled by HIP-3, demonstrating immediate market adoption and liquidity depth.

- **Volume Benchmark Surpassed** ∞ 2x-3x ∞ The initial [daily volume](https://incrypthos.com/news/daily-volume/) of the new equity perpetuals significantly exceeds the typical weekly spot volume for tokenized equities, which generally ranges between $8 million and $12 million.

- **Product Adoption** ∞ 82,000 Users ∞ The combined user base of major crypto wallets (Phantom and BasedApp) that immediately integrated the XYZ100 [perpetuals](https://incrypthos.com/news/perpetuals/), signaling strong distribution and user demand.

![A luminous, square-cut gem rests at the nexus of a segmented white ring, surrounded by a dynamic array of sharp, sapphire-blue crystals. This composition illustrates the core principles of blockchain technology, particularly the secure tokenization of digital value](https://incrypthos.com/wp-content/uploads/2025/09/Blockchain-Tokenization-Mechanism-Securing-Decentralized-Digital-Assets.jpeg)

## Outlook

The immediate strategic outlook for this permissionless futures architecture is a rapid expansion of the available asset universe on-chain. The next phase will see an exponential increase in long-tail perpetual markets as builders leverage the framework to create derivatives for niche assets, commodities, and other exotic financial instruments. This innovation is a foundational primitive; its success makes it highly susceptible to being forked by competing Layer 1 and Layer 2 ecosystems seeking to bootstrap their own derivatives liquidity. The ultimate measure of success will be the protocol’s ability to maintain its first-mover advantage and network effects by attracting the deepest liquidity and the most diverse set of builders, thereby establishing itself as the canonical on-chain risk engine for [synthetic assets](https://incrypthos.com/news/synthetic-assets/).

**The HIP-3 mainnet launch establishes a critical, high-throughput financial primitive that successfully bridges the demand for traditional equity exposure with the capital efficiency of decentralized derivatives, setting a new standard for permissionless market creation on the application layer.**

decentralized derivatives, synthetic assets, permissionless markets, on-chain equities, perpetual futures, index products, capital efficiency, builder incentives, application layer, financial primitives, liquidity infrastructure, risk management Signal Acquired from ∞ <a href="https://www.edgen.tech/news/crypto/hip-3-mainnet-launch-drives-equity-perpetuals-in-crypto-with-significant-initial-volumes-and-builder-adoption?utm_source=incrypthos.com&utm_medium=referral&utm_campaign=noo-engine.com" target="_blank" rel="nofollow">edgen.tech</a> 

## Micro Crypto News Feeds

<a href="https://incrypthos.com/news/perpetual-futures-markets/" class="glossary-item-box">

## perpetual futures markets 

Definition ∞ Perpetual Futures Markets are a type of derivatives market in digital assets that allows traders to speculate on the future price of an asset without a predetermined expiration date. </a><a href="https://incrypthos.com/news/decentralized/" class="glossary-item-box">

## decentralized 

Definition ∞ Decentralized describes a system or organization that is not controlled by a single central authority. </a><a href="https://incrypthos.com/news/derivatives/" class="glossary-item-box">

## derivatives 

Definition ∞ Derivatives are financial contracts whose value depends on an underlying asset, group of assets, or benchmark. </a><a href="https://incrypthos.com/news/architecture/" class="glossary-item-box">

## architecture 

Definition ∞ Architecture, in the context of digital assets and blockchain, describes the fundamental design and organizational structure of a network or protocol. </a><a href="https://incrypthos.com/news/trading-volume/" class="glossary-item-box">

## trading volume 

Definition ∞ Trading volume represents the total number of units of a particular asset that have been exchanged over a specific period. </a><a href="https://incrypthos.com/news/daily-volume/" class="glossary-item-box">

## daily volume 

Definition ∞ Daily volume represents the total quantity of a specific asset, such as a cryptocurrency or stock, that has been traded within a 24-hour period. </a><a href="https://incrypthos.com/news/perpetuals/" class="glossary-item-box">

## perpetuals 

Definition ∞ Perpetuals, or perpetual futures contracts, are derivative instruments that allow traders to speculate on the future price of an asset without an expiration date. </a><a href="https://incrypthos.com/news/synthetic-assets/" class="glossary-item-box">

## synthetic assets 

Definition ∞ Synthetic assets are digital instruments that derive their value from an underlying asset without requiring direct ownership of that asset. </a>

**Tags:** [Perpetuals](https://incrypthos.com/news/perpetuals/), [Framework](https://incrypthos.com/news/framework/), [Derivatives](https://incrypthos.com/news/derivatives/), [Decentralized](https://incrypthos.com/news/decentralized/), [Perpetual Futures Markets](https://incrypthos.com/news/perpetual-futures-markets/), [Perpetual Futures](https://incrypthos.com/news/perpetual-futures/)	

## Discover More

- 
### [Bedrock uniBTC Minting Logic Flaw Drains $2 Million](https://incrypthos.com/security/bedrock-unibtc-minting-logic-flaw-drains-2-million/)
![A pristine white, soft-textured digital asset rests upon a rugged, dark blue blockchain bedrock, partially submerged in rippling on-chain liquidity. Behind, reflective data screens mirror the asset and a metallic oracle sphere, textured with cryptographic primitives. This composition articulates the foundational layer of a decentralized network, where tokenized value interacts with real-time market reflections. It emphasizes protocol stability and secure multi-party computation inherent in Web3 infrastructure, showcasing digital scarcity within a robust ecosystem.](https://incrypthos.com/wp-content/uploads/2025/09/immutable-ledger-foundation-reflecting-digital-asset-liquidity.jpeg)

A critical minting logic vulnerability in Bedrock's uniBTC token allowed attackers to exploit a price discrepancy, leading to a $2 million loss.

- 
### [SEC and CFTC Align to Harmonize Digital Asset Regulation](https://incrypthos.com/regulation/sec-and-cftc-align-to-harmonize-digital-asset-regulation/)
![A sophisticated mechanical assembly features polished silver metallic components interlocked with vibrant blue internal structures, resembling high-precision actuators. This intricate engineering visually represents the robust, modular design of decentralized ledger technology DLT. The visible mechanisms evoke the deterministic execution of smart contracts and the operational integrity of a consensus mechanism. Such precise components are vital for maintaining transaction finality and enabling secure interoperability within advanced Web3 infrastructure or enterprise blockchain solutions.](https://incrypthos.com/wp-content/uploads/2025/09/Modular-Blockchain-Architecture-Actuator-for-Decentralized-Network-Security.jpeg)

Regulators initiate a joint framework to streamline digital asset classification and operational compliance, fostering market clarity.

- 
### [CFTC Authorizes Stablecoins as Derivatives Collateral, Eyes MiCA Platform Recognition](https://incrypthos.com/regulation/cftc-authorizes-stablecoins-as-derivatives-collateral-eyes-mica-platform-recognition/)
![The image reveals a sophisticated internal mechanism, possibly a core component of a validator node, encased within a translucent, vibrant blue substance suggesting advanced liquid cooling or encapsulation technology. Precision-engineered metallic parts, including a central optical or data input module, gears, and structural supports, highlight robust protocol architecture and cryptographic primitives. This visual emphasizes the intricate hardware and software integration crucial for maintaining network security and efficient transaction processing within a high-performance blockchain environment, representing the physical manifestation of digital asset infrastructure.](https://incrypthos.com/wp-content/uploads/2025/09/Decentralized-Protocol-Architecture-Liquid-Cooling-Cryptographic-Security-Module.jpeg)

The CFTC's move to accept stablecoins as derivatives collateral fundamentally alters capital efficiency and risk management for regulated entities.

- 
### [SEC Approves Generic Listing Standards for Digital Asset ETPs](https://incrypthos.com/regulation/sec-approves-generic-listing-standards-for-digital-asset-etps/)
![A sophisticated, angular hardware component is depicted, featuring dark blue and white panels with metallic accents. A prominent, glowing cyan element suggests an active secure enclave or cryptographic primitive processing unit. This modular design could represent a decentralized ledger technology DLT node, optimized for transaction validation and smart contract execution. Its intricate structure implies robust cryptographic security for digital assets, potentially facilitating zero-knowledge proofs or enhancing interoperability within a blockchain network. The luminous core signifies continuous consensus mechanism operation.](https://incrypthos.com/wp-content/uploads/2025/09/modular-dlt-component-zero-knowledge-proof-accelerator.jpeg)

The SEC's new generic listing standards streamline spot crypto ETP approvals, significantly accelerating market access and product diversification.

- 
### [Lighter Perpetual DEX Secures $167 Billion Monthly Trading Volume on Ethereum Layer-2](https://incrypthos.com/web3/lighter-perpetual-dex-secures-167-billion-monthly-trading-volume-on-ethereum-layer-2/)
![A vibrant blue, dense substance, possibly representing a core blockchain asset or liquid staking pool, interacts with a lighter, powdery white material. This visual metaphor illustrates protocol evolution or yield generation within a decentralized finance DeFi ecosystem. The material rests upon sleek, metallic network infrastructure, suggestive of validator nodes or distributed ledger pathways. The white substance, potentially a derivative asset or cryptographic hash output, signifies a transformation process, emphasizing tokenomics and smart contract execution. This dynamic interaction highlights the continuous creation of value within a robust Web3 framework.](https://incrypthos.com/wp-content/uploads/2025/09/blockchain-protocol-asset-synthesis-within-validator-node-infrastructure.jpeg)

The Ethereum Layer-2 perpetual DEX leverages scalability to rapidly capture significant market share in the derivatives vertical.

- 
### [UXLINK Exploiter Loses $48 Million to Sophisticated Phishing Attack](https://incrypthos.com/security/uxlink-exploiter-loses-48-million-to-sophisticated-phishing-attack/)
![A close-up view reveals a dynamic central circular processing unit, brimming with effervescent blue bubbles, suggesting active liquidity pool operations. Surrounding this core, intricate dark blue and silver metallic structures feature glowing blue conduits, indicative of robust blockchain architecture and data pathways. The frothy substance signifies constant transaction processing and network dynamics, where digital assets are algorithmically exchanged. This represents a complex decentralized finance DeFi mechanism, emphasizing computational integrity and protocol execution.](https://incrypthos.com/wp-content/uploads/2025/09/Automated-Market-Maker-Liquidity-Pool-Protocol-Execution.jpeg)

A malicious `increaseAllowance` signature allowed a phishing group to drain $48 million from a prior UXLINK exploiter, underscoring persistent social engineering risks.

- 
### [SEC, CFTC Announce Joint Regulatory Harmonization Initiative](https://incrypthos.com/regulation/sec-cftc-announce-joint-regulatory-harmonization-initiative/)
![A macro view reveals a complex, interwoven blue fibrous structure, resembling interconnected network pathways. This intricate blockchain architecture is partially enveloped by a dynamic layer of white foam, composed of countless small bubbles. These bubbles metaphorically represent individual transaction processing events or data packets actively moving through the system. The textured surface and deep blue tones evoke the underlying cryptographic primitives and consensus mechanisms ensuring block finality within a distributed ledger technology environment.](https://incrypthos.com/wp-content/uploads/2025/09/Interconnected-DLT-structure-illustrating-transaction-validation-dynamics.jpeg)

US regulators SEC and CFTC initiate a comprehensive harmonization effort, clarifying spot commodity trading and reaffirming foreign exchange registration, signaling a strategic shift towards integrated digital asset oversight.

- 
### [Fed Rate Cut Boosts Crypto Market Confidence](https://incrypthos.com/markets/fed-rate-cut-boosts-crypto-market-confidence/)
![A sharp, faceted crystalline structure, resembling a prism or diamond, pierces a complex blue printed circuit board. The circuit board's intricate pathways and integrated circuits suggest a foundation for digital operations, perhaps representing the underlying infrastructure of a blockchain network. The crystalline element may symbolize the immutable, transparent, and valuable nature of digital assets or the cryptographic keys securing decentralized finance DeFi protocols. This juxtaposition highlights the intersection of advanced materials science and the architecture of distributed ledger technology, emphasizing precision and security in the realm of cryptocurrency.](https://incrypthos.com/wp-content/uploads/2025/09/Prismatic-Crystal-Interfacing-With-Decentralized-Ledger-Technology-And-Digital-Asset-Tokenization.jpeg)

The Federal Reserve's rate cut has fueled a "risk-on" environment, driving Bitcoin above $117,000 and lifting altcoin prices.

- 
### [Avantis Launches Base Derivatives Platform with Universal Leverage and AVNT Token](https://incrypthos.com/web3/avantis-launches-base-derivatives-platform-with-universal-leverage-and-avnt-token/)
![A futuristic metallic device, resembling a satellite or validator node, partially submerges in a vast body of water. From its underside, a powerful stream of vibrant blue liquid, mixed with white foam, erupts, creating ripples across the surface. This visual metaphor represents a decentralized finance DeFi protocol injecting significant liquidity into a blockchain ecosystem. The blue flow symbolizes high transaction throughput and data stream, potentially from a smart contract execution or a sustainable PoS mechanism, driving network effect and capital efficiency within a liquidity pool.](https://incrypthos.com/wp-content/uploads/2025/09/sustainable-blockchain-node-ejecting-protocol-liquidity-into-defi.jpeg)

Avantis introduces a capital-efficient derivatives platform on Base, enabling multi-asset perpetual trading with up to 500x leverage, fundamentally reshaping on-chain risk exposure.

**Tags:** [Adoption](https://incrypthos.com/news/adoption/), [Application Layer](https://incrypthos.com/news/application-layer/), [Architecture](https://incrypthos.com/news/architecture/), [Asset](https://incrypthos.com/news/asset/), [Assets](https://incrypthos.com/news/assets/), [Builder Incentives](https://incrypthos.com/news/builder-incentives/), [Capital](https://incrypthos.com/news/capital/), [Capital Efficiency](https://incrypthos.com/news/capital-efficiency/), [Daily Volume](https://incrypthos.com/news/daily-volume/), [Decentralized](https://incrypthos.com/news/decentralized/), [Decentralized Derivatives](https://incrypthos.com/news/decentralized-derivatives/), [Derivatives](https://incrypthos.com/news/derivatives/), [Efficiency](https://incrypthos.com/news/efficiency/), [Equities](https://incrypthos.com/news/equities/), [Financial](https://incrypthos.com/news/financial/), [Financial Primitives](https://incrypthos.com/news/financial-primitives/), [Framework](https://incrypthos.com/news/framework/), [Futures Markets](https://incrypthos.com/news/futures-markets/), [Index Products](https://incrypthos.com/news/index-products/), [Infrastructure Risk](https://incrypthos.com/news/infrastructure-risk/), [Liquidity](https://incrypthos.com/news/liquidity/), [Liquidity Infrastructure](https://incrypthos.com/news/liquidity-infrastructure/), [Mainnet](https://incrypthos.com/news/mainnet/), [Market](https://incrypthos.com/news/market/), [Markets](https://incrypthos.com/news/markets/), [On-Chain](https://incrypthos.com/news/on-chain/), [On-Chain Equities](https://incrypthos.com/news/on-chain-equities/), [Permissionless Markets](https://incrypthos.com/news/permissionless-markets/), [Perpetual Futures](https://incrypthos.com/news/perpetual-futures/), [Perpetual Futures Markets](https://incrypthos.com/news/perpetual-futures-markets/), [Perpetuals](https://incrypthos.com/news/perpetuals/), [Products](https://incrypthos.com/news/products/), [Real-World](https://incrypthos.com/news/real-world/), [Risk](https://incrypthos.com/news/risk/), [Risk Management](https://incrypthos.com/news/risk-management/), [Spot](https://incrypthos.com/news/spot/), [Synthetic Assets](https://incrypthos.com/news/synthetic-assets/), [Trading](https://incrypthos.com/news/trading/), [Trading Volume](https://incrypthos.com/news/trading-volume/)

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---

**Original URL:** https://incrypthos.com/web3/hip-3-mainnet-unlocks-permissionless-decentralized-equity-perpetual-futures-markets/
