🚀 Launch HIP-3 Exchange-as-a-Service (EaaS)

What is Launch?

Launch by Kinetiq is the first Exchange-as-a-Service (EaaS) platform built on Hyperliquid’s HIP-3 protocol, enabling anyone to deploy and operate their own perpetual futures exchange—without the $44M+ capital barrier that previously kept HIP-3 deployments out of reach.

By combining Kinetiq’s proven LST infrastructure with a crowdfunding model, Launch makes it possible for teams to raise the 1,000,000+ HYPE stake required to deploy “builder-deployed markets” on Hyperliquid. Each deployment runs on isolated staking pools, ensuring risk is limited to the exchange you choose to support.

Why HIP-3 matters

HIP-3 introduces builder-deployed perps—a protocol upgrade that lets external teams launch and operate their own perp markets on top of HyperCore infrastructure.

Under HIP-3:

• Stake Requirement: 1M+ HYPE staked per deployer
• Fee Share: Deployers can earn up to 50% of trading fees
• Risk Controls: Stakes can be slashed for malicious activity (e.g., bad oracles)\

This opens the door for more diverse and specialized markets, but the capital requirement is a major hurdle—exactly what Launch solves.

How Launch works

1. Crowdfund the Stake – Contributors pool HYPE into an exchange-specific staking contract.
2. Deploy Your Exchange – Kinetiq infrastructure handles validator setup, smart contracts, and integration.
3. Operate Your Markets – Deployers focus on market curation, trading experience, and community.
4. Earn & Distribute Fees – Trading fees are automatically shared with contributors.

Risk isolation with exLSTs

Each Launch deployment issues its own exchange-specific LST (exHYPE).

• Separate pools for each exchange deployment
• Slashing events only affect that specific pool
• Contributors receive returns based solely on the exchange they backed

Example: Stake in Exchange A, get exA-HYPE—completely isolated from Exchange B.

The “Shopify x Kickstarter” model for perp markets

Think of Launch as:

• Shopify: Full tech stack to run your own exchange without building from scratch.
• Kickstarter: Crowdfunding the capital needed to launch via your community.

Deployers focus on markets & community.

Contributors back projects they believe in and earn yield from their success.

Traders enjoy more market diversity and innovation.

Benefits by role

For deployers:

• Avoid $44M+ capital lockup
• Focus on your edge—market curation, branding, and growth
• Earn a share of fees from your exchange\

For HYPE contributors:

• Back exchanges aligned with your interests
• Earn yield from specific market deployments
• Diversify across multiple exLSTs

For traders:

• Access new, specialized markets
• Benefit from competitive fees and high-performance infra

What’s next

• Testnet deployment & security audits
• First wave of partner exchanges launching via Launch
• Crowdfunding UI for contributors
• Governance frameworks for exchange-specific decisions

Interested in deploying a HIP-3 exchange or supporting one through Launch?

Contact us at contact@kinetiq.xyz to get started.