Commodity trading frenzy drove Hyperliquid HIP-3 DEX open interest to a record high, surpassing $790 million.

According to reports, with the surge in commodity trading activity, the open interest of decentralized perpetual contract exchanges (DEXs) deployed on the Hyperliquid ecosystem using HIP-3 has risen to over $790 million, a record high. HIP-3 (Hyperliquid Improvement Proposal 3), launched last October, introduced a "Builder-Deployed Perpetuals" mechanism, allowing eligible developers who stake sufficient HYPE tokens to deploy perpetual contract markets on Hyperliquid's HyperCore infrastructure without requiring permissions. Official data shows that a month ago, HIP-3-related open interest was only about $260 million, but recently it has continued to break weekly records.