Hyperliquid has introduced a TSLA-USDH perpetual futures market, allowing users to trade on the price of Tesla stock with a USD-backed stablecoin. The new market is managed and deployed by the Felix team, utilizing Hyperliquid's HIP-3 protocol, which enables third parties to create and manage their own perpetual markets.

To ensure pricing accuracy, especially for an asset traded on traditional markets, Hyperliquid has partnered with Redstone. The oracle provider will supply custom price feeds that aggregate data from NASDAQ, IBKR, and DataBento. This approach is designed to provide reliable pricing during standard market hours (9:30 AM ET to 4:00 PM ET) and to develop mechanics for off-hours pricing.

This launch represents a significant step in expanding the range of assets available within decentralized finance, bridging the gap between traditional equities and on-chain derivatives. By enabling permissionless market creation through HIP-3, Hyperliquid is fostering a more open and extensible DeFi ecosystem.

Trade here: https://app.hyperliquid.xyz/trade/flx:TSLA
Docs can be viewed here: http://usefelix.gitbook.io/perps