2025-12-11 12:27:06

What's really happening with HIP-3 right now?

Hyperliquid's HIP-3 proposal has fundamentally reshaped how the platform operates. We're no longer looking at a simple trading venue—this is evolving into a battlefield where deployers fight tooth and nail for three critical resources: order flow, trading volume, and user attention.

The competition is getting fierce. Major deployers are carving out distinct strategies, each betting on different approaches to capture market share. Some are optimizing for liquidity depth, others for execution speed, while a few are going all-in on user incentives.

Here's the thing—this isn't just about who has the deepest pockets anymore. The December 2025 landscape shows a clear pattern: deployers who understand trader behavior and can adapt quickly are gaining ground fast. The ones stuck in old playbooks? They're bleeding volume.

The HIP-3 framework essentially turned Hyperliquid into a proving ground. Every deployer is now forced to answer one question: what real value can you provide to traders beyond just existing on the platform?

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
6
Repost
Share

Comment

0/400

WalletAnxietyPatient

· 12-11 12:56

Damn, now it's gotten to this level of competition, even an exchange can play a Three Kingdoms Kill... Really? Honestly, it's all about who understands human nature best. After this round of HIP-3, those who can't keep up will probably be eliminated. Having deep pockets is no longer enough; this is the real test now. It has to be fast and attractive—who came up with this idea? Why does it look so simple, but in practice, it's all traps... I can't believe the "test field" analogy; it's like throwing everyone into a ring to fight. Only those who can provide value will survive. If that's the case, small operators are really in danger.

View OriginalReply0

PumpDoctrine

· 12-11 12:43

Wow, this is true survival of the fittest. Deployers who are just wealthy and brainless are going to get beaten up.

View OriginalReply0

ParanoiaKing

· 12-11 12:42

Well, to put it simply, it's an upgraded version of the game where big fish eat small fish. If you can't adapt, just wait to be eliminated.

View OriginalReply0

OnChainDetective

· 12-11 12:41

Wait, such fierce competition in order flow? I need to check the on-chain addresses of these deployers to see where large transfers are flowing... Feels like whales are secretly orchestrating something. HIP-3 has really changed the game, but who's footing the bill behind the scenes? Need to monitor institutional wallets. "Deeper pockets are no longer the only chip"? Well said, but I still trust more on-chain evidence. This operation looks like a market maker doing a shakeout; various deployers take turns making moves. Only by watching the fund flows can we tell who’s real and who’s fake. The choice between speed vs. depth... Hmm, it seems someone is intentionally creating fragmented liquidity, gotta stay alert. Behind this HIP-3 move, there must be big players controlling the rhythm. Where did those who lost trading volume go? "Real value"? In the end, it still depends on who can take money out of traders' pockets.

View OriginalReply0

MetaDreamer

· 12-11 12:39

Really, now you have to be smart to play HLP, or you'll just get rolled out.

View OriginalReply0

TestnetScholar

· 12-11 12:33

It's rolling up, really. Deployers are starting to compete with each other. Those who adapt quickly will survive.

View OriginalReply0