Hyperliquid has announced plans to introduce unlicensed use of HIP-4 results markets, a feature that will be released on the testnet before the mainnet release later.
Summary
- Hyperliquid plans to introduce permissionless use of the HIP 4 result markets, starting from the testnet before the mainnet release.
- Investors in the market will need to contribute 500,000 HYPE and may face termination for wrong or delayed market payments.
- The proposal follows the launch of HIP 4 in May, with the prediction markets generating approximately $100 million in trading volume in the first month.
Hyperliquid said in an announcement on Sunday Telegram that the development is aimed at supporting the expansion of the results markets, where the number of possible trading events is too large for single guarantors to manage.
Under the proposed system, insurers would vote on standardized outcome templates that describe how markets should be structured. Those templates will be stored and used onchain, allowing anyone to post new markets using approved formats instead of requiring approval from an approver for every listing.
Once the template is approved, designers will create individual markets and will be responsible for defining and modifying them according to the rules of the template. Hyperliquid said that “canonical markets” created by the validator will continue to exist but are expected to remain rare, with fewer than 10 such results or questions circulated each year with validated votes.
Deployers are responsible for settlement and payment requirements
To participate, HIP-4 suppliers will need to contribute 500,000 HYPE. Hyperliquid said the underwriters can partially or fully reduce that share if markets are misdefined, incorrectly settled, or remain unsettled for more than one week.
Similar to the HIP-3 network framework, the stake will remain closed for six months, and creators must pay all remaining markets before they can withdraw.
Each developer will initially receive a capacity of 100 results, which is equivalent to 200 results tokens. Markets with multiple results will use most of that distribution, while fixed markets will release the volume of future distributions. Hyperliquid also said it plans to launch an auction system that will allow deployers to increase their share.
Market makers will be allowed to charge up to 50% for their markets. Hyperliquid noted that the proposal is always preliminary and may change after public feedback.
The latest proposal builds on Hyperliquid’s release of HIP-4 in May, when the network launched prediction markets on its efficient blockchain. According to Hyperliquid, this feature generated nearly $100 million in trading volume during its first month.
The update comes as Hyperliquid continues to gain attention across fixed and traditional currencies. Earlier this month, Bitwise added HYPE to its Bitwise 10 Crypto Index ETF (BITW) with a stake of about 0.95%, placing the token alongside major crypto assets in a diversified index fund.
The filing followed Hyperliquid’s reported $1.34 billion in trading volume and $320 million in revenue in the first quarter of 2026, according to Bitwise’s latest index update and previous reporting.
