Hyperliquid, a decentralized exchange for trading perpetual futures contracts, has officially released its highly anticipated mainnet. This major launch includes the HIP-1 spot token feature, an innovative tool for on-chain spot trading between pairs of HIP-1 tokens.
The HIP-1 standard developed by Hyperliquid enables minting of capped supply fungible tokens with parameters such as supply, trading decimals, conversion rates, and token names specified at the time of deployment. This makes it possible for easy creation and trading of new spot market pairs directly on the Hyperliquid L1 blockchain.
HIP-1 represents a big milestone toward developing an all-inclusive flexible and robust decentralized trading infrastructure with competent on-chain functionalities. This makes it an all-in-one platform for safe, censorship-resistant tradings alongside the possibility of perpetual futures offered by HyperLiquid.
It also consists of HIP-2, a liquidity commitment solution to HIP-1 spot order books, which will be made available at mainnet launch. Besides that, HyperLiquid plans to integrate Ethereum Virtual Machine (EVM) into its L1 blockchain, thereby enabling seamless interoperability with DeFi applications based on Ethereum.
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