What to know : Hyperliquid’s HYPE token rose about 10% after the exchange unveiled HIP-4, a proposal to add outcome-based trading to its platform. The new fully collateralized outcome contracts would enable prediction markets and options-style derivatives with fixed price ranges, dated markets and non-linear payoffs, without margin trading or liquidations. Outcome trading will debut on a testnet with a limited set of curated markets before a potential move to permissionless listings, building on recent growth in Hyperliquid’s permissionless markets.
Hyperliquid’s token, HYPE, climbed 10% over the past 24 hours after the decentralized exchange detailed HIP-4, a proposal to bring “outcome” trading to its platform.
The new contract type would support prediction markets and options-style derivatives, both long-requested features, according to the team.
"There has been extensive user demand in both of these areas, and builders will likely think of novel applications as well," Hyperliquid wrote in a post on X.
Outcomes are fully collateralized contracts that settle at a fixed price within a specified range. They introduce dated markets and non-linear payoffs to Hyperliquid’s system, which until now has focused on perpetual futures. Unlike traditional leveraged derivatives, outcomes do not require margin trading or risk liquidations.
Outcome trading will launch on testnet first, with mainnet deployment to follow once technical development is complete. Hyperliquid plans to start with a curated set of markets before potentially opening the system to permissionless listings, pending user feedback, it said.
HYPE gained traction over the past month after the exchange's permissionless markets, which allow anyone to create markets on assets like crypto, stocks, and gold by staking 500,000 HYPE tokens, have exploded to record highs. The token is up 33% over the past month.
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