Hyperliquid Introduces Optional Wallet Allowlist Feature for Independent Markets

Hyperliquid has introduced an optional feature known as HIP-3* for its perpetual markets. This extension allows developers who build on the platform to establish onchain wallet allowlists, granting them control over which wallets are permitted to trade on their specific venues.

The feature is designed to provide independent market operators with tools to manage their venues according to their own requirements. By utilizing HIP-3*, deployers can perform five specific actions: managing allowlist approvals, canceling resting orders, canceling time-weighted average price orders, placing reduce-only orders, and transferring collateral between accounts within the same venue.

These capabilities are strictly limited to the individual venue managed by the deployer. For instance, the collateral-transfer function is scoped to the specific venue, and any proxied orders must be reduce-only, meaning an operator can reduce a user's position but cannot increase it. Deployers have the option to use these tools themselves or delegate specific permissions to sub-deployers.

Hyperliquid stated that the feature is optional and does not affect existing markets. The company clarified that HIP-3* is not a protocol-wide wallet freeze or a form of regulatory approval. Instead, it is intended to assist independent deployers in meeting their own operational or jurisdictional requirements.

The responsibility for market operations remains with the individual deployer, who continues to manage contracts, oracles, leverage limits, and settlement. The HIP-3* specification is currently available only on testnet, and there is no announced date for a mainnet release.