Hyperliquid has implemented its HIP-3 upgrade, significantly reducing taker fees by over 90% for permissionless perpetual markets, excluding Bitcoin and existing assets. The new 'growth mode' offers fees as low as 0.00144%, aiming to enhance market participation. The community is optimistic about the potential for increased on-chain activity and the introduction of innovative derivatives. This development is expected to drive long-term demand for the HYPE token, as users benefit from the reduced cost structure and expanded market opportunities.