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HIP-2: Hyperliquidity | Hyperliquid Docs

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Though HIP-1 is sufficient as a permissionless token standard, in practice it is often crucial to bootstrap liquidity. One of Hyperliquid's core design principles is that liquidity should be democratized. For perps trading, HLP can quote deep and tight liquidity based on CEX perp and spot prices, but a new model is needed for HIP-1 tokens that are in early phases of price discovery. Hyperliquidity is inspired by Uniswap, while interoperating with a native onchain order book to support sophisticated order book liquidity from end users. HIP-2 is a fully decentralized onchain strategy that is part of Hyperliquid's block transition logic. Unlike conventional automated order book strategies, there are no operators. The strategy logic is secured by the same consensus that operates the order book itself. Hyperliquidity is parametrized by spot: a spot order book asset with USDC quote returned by a deployment of HIP-1 startPx: the initial price of the range nOrders: the number of orders in the

HIP-2: Hyperliquidity | Hyperliquid Docs Hyperliquid Docs About Hyperliquid Onboarding HyperCore HyperEVM Hyperliquid Improvement Proposals (HIPs) HIP-1: Native token standard HIP-2: Hyperliquidity HIP-3: Builder-deployed perpetuals HIP-4: Outcome markets Frontend checks Trading Validators Referrals Points Historical data Risks Bug bounty program Audits Brand kit For developers API HyperEVM Nodes Powered by GitBook On this page For the complete documentation index, see llms.txt . This page is also available as Markdown . Motivation Though HIP-1 is sufficient as a permissionless token standard,

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