Hyperliquid is testing optional wallet allowlists for builder-run perpetual markets under its HIP-3 framework, allowing each new venue to determine which wallets may trade. The HIP-3* extension is strictly additive: existing markets and permissionless venues remain unchanged, and no mainnet launch date has been announced. Deployers can approve or remove wallets, cancel orders, place reduce-only orders and transfer collateral within the venue, either directly or through separately authorized sub-deployers. The controls are venue-specific and do not constitute regulatory approval, protocol-wide know-your-customer checks or evidence of institutional adoption. HIP-3 operators remain responsible for contracts, oracles, leverage, settlement, margining and order books; mainnet deployers currently must stake 500,000 HYPE, which validators can slash for certain irregular inputs.