Market Management

As a deployer, we manage markets under our DEX. Each deployer posts a 500k HYPE stake when listing markets. This creates a straightforward incentive structure that naturally leads to running solid, well-designed markets that benefit traders and the ecosystem.

Deployer Actions

Listing New Markets

Deployer can deploy new assets under the DEX. The first 3 assets don't require auction participation. Additional assets go through a shared Dutch auction (same as HIP-1 params), ensuring fair expansion.

Settling Markets

Deployer can halt an asset, which cancels all orders and settles open positions to the current mark price. We can resume trading to recycle the asset.

Oracle Updates

Deployer is responsible for updating oracle prices every 3 seconds.

Open Interests Management

Deployer sets open interest caps. This limits total exposure per asset and across the DEX, helping manage liquidity and risk.

Leverage Management

Deployer configures leverage limits. This tailors risk levels for each asset.

Set Funding Multipliers

Deployer adjusts funding rates per asset. It scales funding to fine-tune economics for specific markets.

Set Fee Scale

Deployer configures the fee scale received by us as the deployer. The protocol's fee always remains at least equal to the regular fee rate for each user.

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Find more details on deployer actions in the official Hyperliquid docs: HIP-3 deployer actions