Hyperliquid DEX Contract Volume Hits Record High of $790 Million According to ChainNews, Hyperliquid announced on Monday that its open interest on its HIP-3-based decentralized exchange (DEX) has reached a record high of over $790 million, driven by a surge in commodity trading. This figure relies on the permissionless perpetual contract market deployment capabilities introduced by HIP-3, allowing qualified builders to independently deploy and operate perpetual contract DEXs on the HyperCore infrastructure using staked HYPE tokens. Hyperliquid CEO Jeff Yan noted that the platform has become the most liquid venue for cryptocurrency price discovery, with its Bitcoin perpetual contract bid-ask spread narrowing to $1, lower than Binance's approximately $5.50.