Hyperliquid Tests Allowlist for Payward’s Planned U.S. Markets

Hyperliquid has opened a testnet option that lets operators restrict trading on HIP-3 perpetual markets, giving Payward a way to pursue its proposed U.S. contracts if regulators approve them.

Introduced Oct. 26, the optional setting lets a market deployer or its sub-deployers manage an onchain list of addresses allowed to trade. Existing HIP-3 markets will not change.

Under Payward’s proposed arrangement, Bitnomial Exchange, LLC would create, own and administer the markets. Bitnomial Exchange is a Commodity Futures Trading Commission-regulated designated contract market; Bitnomial Clearinghouse, LLC, a separate entity, would clear and settle the contracts as a CFTC-registered derivatives clearing organization.

NinjaTrader Clearing, a Payward entity registered with the CFTC as a futures commission merchant, would hold client accounts.

The settings are available on testnet with preliminary specifications that may change after feedback. Hyperliquid plans to support them in a future network upgrade. No live-trading date or contract details have been announced.

The testnet feature follows Payward’s Sept. 16 plan for HIP-3 markets for eligible U.S. clients, which remains subject to regulatory approval.