Hyperliquid Tests New Tool to Restrict Market Access

Hyperliquid has introduced a testnet update called HIP 3*, which allows creators of perpetual markets to manage specific wallet allowlists. This gives developers the power to decide exactly which users can trade on their individual venues. The feature is entirely optional and does not affect the broader, open markets currently operating on the platform.

Under this new model, market operators gain tools to perform specific actions on behalf of users, such as canceling orders or managing collateral within their specific venue. Crucially, these permissions are confined to the individual market created by the developer. This design allows firms that face specific jurisdictional or customer requirements to build gated environments without changing the permissionless nature of the rest of the Hyperliquid network.

While this update adds more control for developers, it does not change the core responsibilities of market operators. Deployers are still required to maintain the necessary stakes and ensure the performance of their markets. As of now, the feature is limited to the testnet, and there is no confirmed timeline for a mainnet release.