Written by: Yue Xiaoyu
The future of Hyperliquid lies in HIP-3, and the foundation of HIP-3 is HyperStone.
1️⃣ Hyperliquid is not just building an on-chain derivatives exchange, but is constructing an entire ecosystem, and only then is the ceiling high enough.
Currently, the RWA (Real World Assets) boom is surging, with US Treasuries on-chain, US stocks on-chain—everything can be put on-chain.
However, Hyperliquid alone cannot handle or absorb all these markets, so it will definitely need to leverage the power of the ecosystem.
On October 13, 2025, HIP-3 will go live on the mainnet, realizing the complete decentralization of perpetual contract listings.
From that day on, Hyperliquid will no longer be an approval-based exchange, but will become an open platform where anyone can launch a market by staking 1 million HYPE.
Simply put, Hyperliquid is giving the right to list tokens to the community.
2️⃣ At this point, when everyone wants to put all kinds of assets on-chain, what is the core issue encountered?
It’s actually the price.
Unlike Hyperliquid’s native markets, which rely on validator consensus for pricing, the HIP-3 markets rely entirely on external oracles to provide price data.
This places extremely high demands on data accuracy and real-time performance.
Therefore, oracles are the most critical infrastructure.
3️⃣ This means we must pay attention to the core player in this track: RedStone.
RedStone has occupied a dominant 99.5% share of the oracle market since the launch of HyperEVM, and serves as the official price feed provider for Hyperliquid’s native stablecoin USDH.
On this basis, RedStone has developed HyperStone, optimizing its modular oracle architecture into a dedicated solution for HIP-3.
This is the first oracle designed specifically for HIP-3.
HyperStone can help builders launch perpetual contracts for almost any asset, from cryptocurrencies to tokenized stocks (such as TSLA), real world assets (RWA), and even economic indicators.
For example, if you want to create a Tesla stock perpetual contract, HyperStone will tell you every 3 milliseconds: the current price of Tesla on the US stock market.
It can be said that without HyperStone, HIP-3 would be an empty city.
4️⃣ Where is Hyperliquid’s moat?
It’s not trading volume, nor fees, but the people who can build markets, and the precision and speed of price feeds.
Hyperliquid is transitioning from a centralized team-driven model to a decentralized trading network.
And every heartbeat of this network comes from HyperStone’s 3-millisecond pulse.
This is why we say the future of Hyperliquid lies in HIP-3, and the foundation of HIP-3 is HyperStone.
For a detailed analysis of the @redstone_defi project, you can check out the mind map above ⬆️
