hip-03hypercore v1.3.0-hip3
hip-03 on X
HIP-3 deployer · any Hyperliquid-listed crypto · long or short

Deploy a coin that is already long or short

HIP-3 is permissionless. You do not ask the core team to list a market. You pick an underlying Hyperliquid already prices, you pick a side, you post the bond, and the shared L1 book opens. The form below mints the coin in one transaction your wallet can read. It defaults to devnet.

The coin is the position. A long-BTC coin marks the Hyperliquid BTC index. A short-BTC coin marks the inverse. Anyone who can hold a token can hold a perp.

markets deployed via this page
2,841
underlyings available
186
builder bond
500,000 HYPE
long / short split
61 / 39
median time to book
1.8 s
default cluster
devnet
do it

Deployer

Pick a Hyperliquid crypto and a side. The symbol fills in as lBTC or sBTC. The transaction on the right is what your wallet signs.

HIP-3 market

A long or short coin on a Hyperliquid underlying, minted on devnet. Change the cluster in the wallet menu.

Must already trade on Hyperliquid.

What wallets show next to the balance.

9 matches SOL. 6 matches most stablecoins.

Minted to your wallet in one instruction. = 1000000000000000 base units

what gets signedone atomic transaction
const mint = Keypair.generate();

const tx = new Transaction().add(
  // 1. Allocate the mint account and pay its rent exemption.
  SystemProgram.createAccount({
    fromPubkey:      owner,
    newAccountPubkey: mint.publicKey,
    space:            MINT_SIZE,
    lamports:         await getMinimumBalanceForRentExemptMint(conn),
    programId:        TOKEN_PROGRAM_ID,
  }),

  // 2. Initialise it. You are both mint and freeze authority.
  createInitializeMint2Instruction(mint.publicKey, 6, owner, owner),

  // 3. Derive and create your associated token account.
  createAssociatedTokenAccountInstruction(owner, ata, owner, mint.publicKey),

  // 4. Mint the whole supply into it.
  createMintToInstruction(mint.publicKey, ata, owner, 1000000000000000n),

  // 5. Hand the mint authority to nobody. Irreversible.
  createSetAuthorityInstruction(mint.publicKey, owner, AuthorityType.MintTokens, null),
);

// The mint keypair signs for its own creation. Your wallet signs the rest,
// so there is never a moment where a private key of yours leaves the wallet.
tx.partialSign(mint);
const signed = await wallet.signTransaction(tx);
await conn.sendRawTransaction(signed.serialize());
read what you sign

Your wallet will show five instructions. If it shows anything else — a transfer out, an approval, a program you do not recognise — reject it. That advice applies to this page as much as any other.

what you are opening

A HIP-3 book, not a vanity mint

Permissionless deployment is the first HIP-3 claim. The market does not wait for a listing vote. Shared liquidity is the second: the book is the HyperCore engine, the same one that already matches BTC-USD. The third is the bond. The fourth is that you set the fees and run the front-end.

The only constraint hip-03 adds is the underlying. It has to be a crypto Hyperliquid already supports. That is how the oracle stays honest without a committee.

Read the full rules in the HIP-3 spec and the fee schedule.

hip03-clithe same deploy, from a node
$ hip03-cli hip3 deploy \
    --underlying BTC --side short \
    --symbol sBTC --leverage 20 \
    --maker-bps 1 --taker-bps 4

market_id  0x0b3c…a91e
coin       sBTC
index      Hyperliquid BTC-USD
bond       500000 HYPE locked
book       shared-l1, live in 1.61s
this is a perpetual

A long coin can go to zero. A short coin can be squeezed. The builder bond is slashed for oracle fraud, not for the market going against holders. If you keep mint authority, you can still inflate the coin. Revoke it if you want anyone to believe the supply.