PANews, July 14th news, according to The Block, the permissionless perpetual market deployment framework HIP-3 on Hyperliquid now accounts for about 50% of the platform’s total perpetual contract volume, up from roughly 2% at the start of the year. This increase coincides with rising retail demand for on-chain stock trading, primarily driven by TradeXYZ, which operates the XYZ100 tracking the Nasdaq 100 Index and contracts on individual stocks such as Nvidia and Tesla, all settled in stablecoins.
Analysis indicates that perpetual contracts avoid the time decay of options, and 24/7 trading allows users to respond instantly to market events, making them more retail-friendly. However, the underlying stocks only operate during trading hours; off-hours prices rely entirely on oracles and the funding rate mechanism for anchoring. This model remains insufficiently verified compared to natively 24/7 assets like crypto assets. Early trading volumes point to genuine demand, but the product category is still in its early stages.
