Hyperliquid expects to activate a major protocol upgrade, HIP-3, later today, which will enable the permissionless creation of perpetual futures markets. A Hyperliquid administrator announced in the protocol's Discord channel that the October 13th network upgrade will include the activation of HIP-3. "HIP-3 will be enabled during this network upgrade," the administrator stated. "There will be no immediate changes for users. Deployers who meet the on-chain requirements will be able to deploy perpetual contracts for trading once they are ready." A previously disclosed document from the project stated that HIP-3 (Hyperliquid Improvement Proposal 3) will support developer-deployed perpetual contracts, marking "a key milestone in achieving full decentralization of the perpetual contract listing process." According to the document, once HIP-3 is enabled, deployers will only need to stake 500,000 HYPE tokens to launch a permissionless perpetual contract DEX on HyperCore. HIP-3 integrates with the HyperEVM to enable smart contracts and governance, and also includes safeguards such as validator slashing and position limits. (The Block)