Hyperliquid answered the challenge of the emerging new perpetual DEX by opening infrastructure for user-created markets. The DEX will turn into a platform for builder-deployed perpetuals, with their separate liquidity and margin rules.  Hyperliquid, the leading perpetual futures DEX, answered the challenge of its competitors by evolving into a platform for new market creation. The exchange’s founder Jeff Yan, presented the HIP-3 infrastructure, which would allow the creation of builder-deployed markets.