Payward to build permissioned Hyperliquid derivatives markets for US clients
DeFi & Yields ·
Payward said it will launch permissioned HIP-3 perpetual futures markets on Hyperliquid for United States clients, with Bitnomial serving as clearing partner.
The plan was disclosed on X, where Payward outlined its intent to build the markets under Hyperliquid's builder-deployed perpetuals framework. That framework, known as HIP-3, lets third-party teams stake HYPE to gain deployer rights and then list and operate their own perpetual futures markets, including for real-world assets, rather than relying on Hyperliquid's core team to curate listings. Deployers under HIP-3 are responsible for configuring market parameters and securing oracle infrastructure, while Hyperliquid's base layer continues to handle matching, liquidations, and cross-margining across all markets built on top of it.
By pairing a HIP-3 deployment with Bitnomial as clearing partner, Payward's structure is aimed at offering permissioned access for US clients, a segment that has largely sat outside Hyperliquid's existing perp markets. The announcement does not specify which assets the new markets will cover or when they are expected to go live.
The move comes as HIP-3 has become a growing part of Hyperliquid's product surface, with builder-deployed markets spanning commodities, tokenized equities, and pre-IPO instruments. Coverage of the cluster is corroborated by two distinct sources reporting Payward's plans.
What remains unresolved is the timeline for launch, the specific market or markets Payward intends to deploy, and how the permissioned, US-facing structure will interact with Hyperliquid's broader HIP-3 ecosystem of builder-run venues. Further detail on regulatory framing and the scope of Bitnomial's clearing role has not yet been disclosed.