The surge in commodity trading has driven Hyperliquid HIP-3 DEX's open interest to a record high, surpassing $790 million.

Odaily Planet Daily reports that as the trading volume of commodities increases, the open interest (OI) in the decentralized perpetual contract exchange (DEX) based on HIP-3 within the Hyperliquid ecosystem has risen above $790 million, reaching a new all-time high.

HIP-3 (Hyperliquid Improvement Proposal 3) was launched in October last year, introducing the “Builder-Deployed Perpetuals” mechanism, which allows eligible developers who stake enough HYPE tokens to deploy perpetual contract markets permissionlessly on Hyperliquid’s HyperCore infrastructure. Official data shows that a month ago, the HIP-3 related open interest was only about $260 million, and it has recently continued to hit new weekly highs.