hip-4

According to The Block, Hyperliquid announced that it will introduce a permissionless deployment mechanism for the HIP-4 outcome markets in future upgrades. According to the disclosure plan, validators will vote on outcome templates to ensure market quality and clarity of expression.In addition, HIP-4 market deployers are required to stake 500,000 HYPE and can receive up to 50% of the fee share from the markets they create.

According to community news, the Federal Reserve's June interest rate decision prediction event is online on the HIP-4 testnet. Previously, it was reported that Hyperliquid launched HIP-4 on the mainnet, with the first offering being a BTC daily settlement prediction market.

According to FinanceFeeds, the HIP-4 event contract of Hyperliquid achieved a nominal trading volume of 6.05 million contracts on its first day, equivalent to over 6 million USD, setting a record for opening trading volume of such products.It is reported that HIP-4 is Hyperliquid's native event contract standard, allowing the creation of fully collateralized event market contracts based on specific outcomes.Data shows that the trading volume of this product on its first day accounted for approximately 0.7% of the total trading volume of related prediction markets.

The decentralized trading platform Hyperliquid has officially launched the HIP-4 event contracts. On the first trading day, the nominal trading volume of this product reached 6.05 million contracts, accounting for about 0.7% of the total predicted market volume for that day. In comparison, mainstream prediction market platforms had significantly larger trading volumes on that day: Kalshi approximately 546 million contracts, Polymarket approximately 190 million, Limitless approximately 68.26 million, Crypto.com approximately 28.2 million, Opinion approximately 25.72 million, and Predict.fun approximately 11.8 million.Data shows that although Hyperliquid's initial scale in the event contract sector is relatively small, it has achieved cold start trading volume, marking its official entry into the prediction market competitive landscape. In the short term, leading platforms still hold an absolute liquidity advantage, and future growth will depend on product design and user migration capabilities.

According to the official Hyperliquid page, the first HIP-4 binary prediction market contract "BTC above 78213 on May 3 at 2:00 PM" (whether the Bitcoin price will be above $78,213 at 2:00 PM) launched on May 2 at 16:00 has an open contract position of $1.818 million, with a total trading volume of $2.384 million accumulated in nearly 19 hours, and the current probability is reported at 0.497.According to the official HIP-4 proposal, the Outcomes (result contracts) adopt a fully collateralized mechanism, fundamentally eliminating the risk of liquidation; its nonlinear settlement method provides users with flexibility similar to options, expanding the strategy space; at the same time, it is natively integrated into the HyperCore chain, sharing full-margin collateral with the platform's spot and perpetual contracts, achieving seamless liquidity interconnection and reuse.

The Hyperliquid team has updated the official documentation, clarifying the fee logic for result tokens in HIP-4. Key points include: opening positions is free, with fees only charged upon closing or settlement; it covers six scenarios including minting (no fees), normal trading, burning, and settlement, with fee logic varying by payer; aligned quote tokens can enjoy a 20% reduction in taker fees. The fee formula is now publicly available to developers.

Hyperliquid announced that HIP-4 has officially launched on the testnet. The first result-based market to go live is the periodic binary options based on HyperCore's marked prices. Users can view the relevant markets in the "Predict" section of the testnet interface. The result contracts are fully collateralized, settled within a fixed price range, feature non-linear returns and expiration time characteristics, and do not involve leverage or liquidation mechanisms.Hyperliquid also stated that it plans to launch a one-day expiration binary market for BTC and HYPE in the future. The protocol is designed to support multi-result markets, but this feature has not yet been included in the first release plan.Hyperliquid previously disclosed that in the next network upgrade, the portfolio margin will transition from the pre-alpha phase to the alpha phase, expanding the applicable scope from test accounts to portfolios under approximately $500,000. A main account must have a weighted trading volume exceeding $5 million to enable portfolio margin and set supply and borrowing limits for each asset: 1. The overall supply limit for USDH is 500 million tokens, with an overall borrowing limit of 100 million tokens; 2. The single-user supply limit for USDH is 5 million tokens, and the single-user borrowing limit is 1 million tokens.