Hyperliquid Introduces Wallet Allowlists for Perpetual Markets
Wallet What?
So, here’s the scoop: Hyperliquid is shaking things up with a new feature allowing market operators to put their wallets on a VIP list. Yep, you heard that right! In a recent update from Sept. 3, they announced the launch of optional wallet allowlists that let builders of perpetual markets decide who gets to join the trading party.
What’s HIP-3 All About?
Introducing HIP-3*, the shiny testnet-only upgrade! This bad boy lets market deployers put up a neon sign that says, “Only cool wallets allowed!” Now, if you’re a builder on Hyperliquid’s platform, you can specify which wallets have trading privileges at your venue without messing with access for everyone else. It’s like getting to pick your favorite party guests while still letting the rest of the crowd hang out in the general area!
Five Ways To Party
Alright, so what can a HIP-3* deployer do? Picture this: they can strut around like a bouncer with five key tricks:
- Add or remove wallets from the allowlist – like deciding who is in or out of your exclusive club.
- Cancel specific orders – bye-bye pesky trades!
- Cancel all orders from a user – a total clean slate!
- Place orders that only reduce positions – because we want to keep things chill, not wild.
- Move collateral around like a boss – within the designated venue, of course.
But wait, here’s the catch! These powers are venue-specific. So, don’t get too excited, you can’t just use these powers anywhere you please. It’s like having a VIP backstage pass that only works for one concert!
A Little Seriousness on Compliance
Now, don’t go thinking this is a free pass to throw caution to the wind. Hyperliquid emphasized that their tools won’t magically make you compliant with regulations, and they’re not doing any know-your-customer checks either. The responsibility still lies with the deployers! They have to make sure they’re following any requirements that apply to them. So don’t start thinking you can just open a club without following the dress code!
What’s the Bottom Line?
In essence, HIP-3* is like being handed a new gadget to play with, but you still need to know the rules of the game. While the feature allows for more control over who gets to party in your market, ultimately, the market operator is still at the wheel. According to Hyperliquid, no, they won’t take the rap if things go south.
A Final Note
So there you have it—Hyperliquid is rolling out some exciting options for those ready to customize their trading experiences. But remember, with great power comes great responsibility! Make sure you know your stuff before diving headfirst into the crypto wild wild west.