What to know:
- Hyperliquid will test permissionless HIP-4 outcome market deployment before its mainnet.
- Deployers must stake 500,000 HYPE and may face slashing for market settlement failures.
- Bitwise added HYPE to its crypto index after strong trading volume and revenue growth.
Hyperliquid is preparing to allow open deployment of HIP-4 outcome markets. The feature will first launch on testnet before moving to mainnet, according to an official Sunday announcement shared by the project through its Telegram channel.
The change aims to support a wider range of tradeable events. Validators cannot review every possible question because the number of markets may grow quickly. Hyperliquid will instead ask validators to approve standard outcome templates.
Also Read: HYPE Price Eyes $172 as Hyperliquid Fee Growth Signals Bullish Momentum
How Hyperliquid Plans to Enforce HIP-4 Market Rules
Each approved template would outline the required market structure. These guidelines will be recorded and enforced on-chain. Qualified deployers can deploy their markets without going through another validation vote for each listing separately.
Deployers would specify details for each market and manage the settlement process according to the approved guidelines. Hyperliquid claimed that validator-created canonical markets will remain available. Still, fewer than 10 canonical outcomes or questions were expected per year.
HIP-4 deployers had to stake 500,000 HYPE tokens to be able to take part in the program. Validators could penalize this amount partially or totally based on the lack of clarity during a deployment. Settlement errors and delays of more than one week were also subject to penalty.
The token stake would be locked for six months, as per HIP-3 requirements. Deployers had to complete the settlement process for all open markets prior to the withdrawal of funds. This requirement is designed to keep creators responsible for unresolved listings.
Each deployer will start off by receiving capacity to cover 100 outcomes. This means they will receive 200 outcome tokens. Multi-outcome markets will require more capacity, whereas settled listings will create room for deployment.
What Hyperliquid’s Auction Plan Means for Market Deployers
In addition to that, Hyperliquid is planning on implementing an auctioning process for deployers who want more capacity. Fees can be charged up to 50% on each market creator’s listings. The team described the proposal as preliminary and that it might change after community feedback.
The proposal builds on HIP-4, which was announced last month. The announcement marked the debut of prediction markets on the company’s high-performance blockchain.
According to Hyperliquid, the feature has generated approximately $100 million in trading volume within the first month.
The proposal comes as the company is gaining traction from both decentralized and traditional finance companies. Bitwise included HYPE in its Bitwise 10 Crypto Index ETF earlier this month. The token received an allocation of about 0.95%.
The ETF included the token among other cryptocurrencies on its diversified index. In addition to that, Hyperliquid announced $1.34 trillion in trading volume in the first half of 2026. Its revenue reached $320 million in the same period, according to Bitwise’s index update.
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