Hyperliquid, a decentralized derivatives trading platform, announced on X platform that it has launched the on-chain Spot Token deployment feature on the mainnet without permission, according to the news from Odaily. HIP-1 is a fungible token standard with a capped supply, supporting on-chain spot order book trading between HIP-1 tokens. Deployers need to bid for gas fees through a Dutch auction, which lasts for 31 hours. The project strongly recommends deployers to try it out on the testnet first to avoid any issues on the mainnet.

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