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Hyperliquid’s HIP-3 Market Generates $44 Million in Revenue, On-Chain Data Shows

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2026-06-24 10:04:39
On-chain data shows Hyperliquid’s HIP-3 market has generated $44 million in cumulative revenue so far. According to ChainCatcher, $22 million has been distributed to HIP-3 developers, while the remaining $22 million has been used to buy back HYPE tokens.

HIP-3 is a market creation and incentive mechanism within the Hyperliquid ecosystem that allows developers to create and operate trading markets and receive a share of protocol revenue based on market performance.

The disclosed figures indicate HIP-3 has become a revenue source for the Hyperliquid ecosystem and a funding channel for ongoing HYPE token buybacks.
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