Hyperliquid To Let Anyone Deploy Outcome Markets Under HIP-4 Upgrade

Hyperliquid has announced plans to introduce permissionless deployment for its HIP-4 outcome markets in an upcoming upgrade. The feature will roll out on testnet first before making its way to mainnet.

Why Hyperliquid Is Opening Up Deployment

In a Sunday announcement, Hyperliquid said permissionless deployment is a key step for growing outcome markets, given how vast the range of possible tradeable outcomes can be. To keep quality and clarity intact, validators will vote on standardized outcome templates, with specifications stored and enforced directly onchain. These approved templates will form the base that deployers use to build their own individual markets, with each deployer responsible for defining and settling their markets according to the template’s rules. Hyperliquid noted that validators may still deploy canonical markets directly on occasion, though this is expected to stay rare, likely covering fewer than 10 outcomes or questions per year, and would require a validator vote.

Staking Requirements For Deployers

Anyone deploying under HIP-4 will need to stake 500,000 HYPE tokens. That stake can be partially or fully slashed by validator vote if a market is poorly defined, settled incorrectly, or not settled within a week. Similar to HIP-3, the stake stays locked for six months, and deployers must close out all open markets before they can unstake.

Allocation And Fee Structure

Each deployer starts with an allocation covering 100 outcomes, or 200 outcome tokens. Multi-outcome questions will use up more of this allocation, though settled outcomes free up space for reuse. Hyperliquid plans to add an auction system later to let deployers expand their allocations. Deployers can also charge fees of up to 50% on their markets, though the company said all details remain preliminary and could shift based on community feedback.

Hyperliquid rolled out HIP-4 in May, bringing prediction markets to its blockchain, and the feature has already drawn around $100 million in trading volume in its first month.