Hyperliquid Debuts Mainnet Including Novel Spot Trading Capability

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<p>The decentralized exchange platform Hyperliquid has recently unveiled its mainnet for the public, focusing on perpetual futures contract trading. Included in this release is the creation of the HIP-1 spot token utility, a groundbreaking mechanism that allows for spot trading among varying HIP-1 token pairs directly on-chain.</p>

<p>Hyperliquid's HIP-1 protocol permits the generation of capped supply tokens that are fungible, with details such as total supply, number of decimals for trades, exchange rates, and token names established upon their initial creation. This paves the way for straightforward generation and exchange of spot market pairs on the bespoke Hyperliquid L1 blockchain.</p>

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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Permissionless spot deploys are now live on mainnet.</p><p>Before deploying on mainnet, it is highly recommended to experiment on the testnet to mitigate mainnet complications. Spot assets deployed by users are not officially sanctioned. Engage with assets judiciously, ensuring you are informed about their risks and have done your own research (DYOR). <a href="https://t.co/5TezihtVZz" target="_blank" rel="noopener">pic.twitter.com/5TezihtVZz</a></p>— Hyperliquid (@HyperliquidX) <a href="https://twitter.com/HyperliquidX/status/1793967681986806153?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 24, 2024</a></blockquote>
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<p>The initiative embodied by <a href="https://hyperliquid.gitbook.io/hyperliquid-docs/hyperliquid-improvement-proposals-hips/hip-1-native-token-standard" target="_blank" rel="noopener">HIP-1</a> is a significant step forward in creating a comprehensive, adaptable, and robust infrastructure for decentralized trading with potent on-chain tools. HyperLiquid's ambition is to offer a singular platform for secure, uncensorable trading activities, including perpetual futures trading capabilities.</p>

<p>In addition to HIP-1, the mainnet launch will introduce HIP-2, a system for committing liquidity to HIP-1 spot market order books. Furthermore, HyperLiquid is setting the stage for future platform versatility by integrating the Ethereum Virtual Machine (EVM) with its native L1 blockchain, promoting seamless compatibility with Ethereum-based DeFi applications.</p>

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<p><strong>Also Read:</strong> <a href="https://www.cryptotimes.io/2024/05/25/teneo-transfers-3acs-strk-tokens-to-binance/" target="_blank" rel="noopener"><strong>Teneo Transfers 3AC’s STRK Tokens to Binance</strong></a></p>
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#Hyperliquid #Launches #Mainnet #Spot #Trading #Feature