This API is in private preview. Endpoint availability and response schemas may change before general availability.
Hyperliquid supports two permissionless market-deployment primitives with different market models and operating responsibilities.
HIP-3 lets a deployer create a perpetual DEX. Each DEX has independent margining, order books, and deployer settings.
A HIP-3 deployer defines its markets, including the oracle definition and contract specifications, then operates those markets by maintaining oracle prices, leverage limits, and settlement when needed. The current mainnet staking requirement is 500,000 HYPE and remains in place for at least 183 days after the DEX is deployed.
Deploying and operating a HIP-3 market involves:
- Selecting collateral, market specifications, and margin settings
- Registering the DEX and its assets through the HIP-3 deployer actions
- Operating a resilient oracle update process
- Setting market controls, including funding, open-interest, and fee settings
- Planning liquidity, monitoring, settlement, and incident response
HIP-4 provides fully collateralized contracts that settle within a fixed range. It is designed for uses such as prediction markets and bounded options-like instruments rather than leveraged perpetual trading.
Outcome markets have two sides, each represented by a token. Questions group outcomes where exactly one outcome settles to Yes and the others settle to No. The HIP-4 deployer actions describe template-based deployment: validators vote on templates, and deployers instantiate approved templates with their market values.
Permissionless HIP-4 deployment is available on mainnet through approved outcome templates. The Foundation documents testnet limits of 10 active outcomes per deployer and 50 deployed outcomes per day.
Mainnet outcome metadata and outcome templates are populated. Alchemy prepares teams for permissionless mainnet deployment.
Outcome templates are registered through validator governance. See Outcome templates for the available template definitions.
Each outcome deployer has a venue name. The Foundation requires that venue name to be unique, two to four lowercase ASCII letters, and subject to the same naming rules and shared namespace as HIP-3 perpetual DEX names. The outcome metadata response identifies deployers by both deployer address and venue. Query available templates with the outcomeTemplates info request.
A market deployment is an operating commitment as well as an onchain action. Establish the market definition, oracle and settlement design, collateral model, liquidity plan, monitoring, and response ownership before launch.
Alchemy is standing up a Hyperliquid validator. This work is giving our team direct visibility into the technical requirements of market deployment as the validator comes online.
For HIP-3, we work with partners to help prospective deployers source the required stake. After launch, we will work with an ecosystem of partners to support deployers across market operations, including oracle providers.
The HyperCore REST reference includes deployment state, deployment-auction, outcome metadata, settled-outcome, and outcome-template reads.
Use the Foundation documentation for the action-level requirements and signed request formats: