Hyperliquid (HYPE) Eyes Native Token Issuance and Latest Development Plan
Hyperliquid (HYPE), one of the largest exchanges (DEXs) in the crypto sector, is preparing for an important development that could shape the way new projects launch tokens in its space.
A proposal, known as HIP-6presents a framework designed to enable permissionless, on-chain token implementation without relying on the passive capital raising methods currently used by many parties.
A New Hyperliquid Proposal
Details of this proposal were shared on social media by James Evans of Reciprocal Ventures. According to Evans, HIP-6 is setting up a permissionless token launch auction for new HIP-1 assets, designed for groups that want to issue tokens directly from Hyperliquid.
The system adapts Uniswap’s ongoing auction model to work within Hyperliquid medium limit order book (CLOB) environment, which allows the launch of tokens to occur natively within the exchange infrastructure.
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Currently, while HIP-1 and HIP-2 already allow permissionless tokenization and automatic liquidity provision, gaps remain in capital formation and price discovery.
Teams launching tokens on Hyperliquid often need to secure off-chain funding, fund themselves to purchase HIP-2 seed tokens, or release tokens from relatively small order books.
These limitations mean that, despite its technical strengths, Hyperliquid has not yet reached the parity of esteem with other high-performance ecosystems and exchanges when it comes to initial token offerings.
HIP-6 is designed to bridge that gap, although participation will remain optional for projects. By combining capital raising and investing in on-chain flows, the proposal aims to simplify the process for founders.
Funds collected during the auction will be automatically split between the token sender and the HIP-2 fund supply, reducing operational conflicts and reliance on external systems.
Auction Structure and Ecosystem Growth
A core part of the proposal is its pricing approach. Instead of a one-time auction at the risk of time-saving techniques, HIP-6 uses a continuous clearing auction that unfolds over multiple blocks.
This structure is intended to determine a fair market price while reducing the “shooting” and last-minute bidding behavior often seen in traditional token launches.
The development also seeks to strengthen the wider ecosystem surrounding Hyperliquid. By creating a resource for aligned quota assets, HIP-6 can contribute to higher the total amount is locked (TVL) on those assets and generate the field’s Relief Fund yield.
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Although HIP-6 talks about how new tokens raise capital and establish initial capital, it does not say how those tokens create long-term value or how their governance systems work.
Mechanisms such as revenue sharing, purchases, pooled rewards, treasury oversight, or voting rights will remain for individual projects.
Similarly, protections for token holders—such as lock-in, on-chain transparency requirements, or delivery schedules affecting both consumers and group shares—will need to build on the HIP-6 framework.
The stated goal of the proposal is to make the initial auction process as efficient and equitable as possible, leaving post-launch design choices to the Hyperliquid community’s creativity.
At the time of writing, HYPE, the platform’s native token, was trading at $27.430, representing a 3% drop in the last 24 hours.
Featured image from OpenArt, chart from TradingView.com
