HIP-3’s open-interest ratio has climbed above 33%. The momentum is a bit intense—Hyperliquid’s governance token is starting to become a real risk-exposure anchor.

Wu Says learned that, per a post by Hyperliquid News, the share of HIP-3 daily open interest in Hyperliquid’s total open interest rose to 33.36%, reaching a record high. This ratio has continued to rise since the start of this year; after the end of March, it mostly stayed at around 27% or above, and has recently climbed further.