Hyperliquid Hands Out the Keys to HIP-4 — Just Stake Half a Million HYPE First 🔑

Hyperliquid has announced permissionless deployment for its HIP-4 outcome markets in a forthcoming upgrade, opening the door for anyone to launch prediction markets using validator-approved templates. The rollout will move first to testnet and then to mainnet, according to the project. "The technology for outcome markets required sufficient battle testing in a validator-deployed setting before scaling to permissionless deployment," Hyperliquid said.

To participate, deployers must stake 500,000 HYPE tokens, a figure designed to filter out spam and maintain template quality. In return, prediction market deployers can earn up to 50% of trading fees generated by their markets, with the remaining revenue allocated elsewhere in the protocol. Hyperliquid framed the requirement as a way to keep the ecosystem curated while removing gatekeepers from the launch process.

The $HYPE token continued to trade sideways near $60 as the announcement circulated, showing no immediate directional reaction. Hyperliquid did not specify an exact launch date for either the testnet or mainnet phase, stating only that the upgrade would arrive in the future.

HIP-4 refers to a Hyperliquid Improvement Proposal focused on outcome-based prediction markets, a category that allows traders to take positions on the results of specific events. By transitioning from validator-deployed to permissionless markets, Hyperliquid is positioning the feature as a more open-ended primitive on its layer-1 network, provided deployers meet the staking threshold.

The project has not yet detailed the full list of validator-approved templates that deployers will be able to use, nor the criteria validators will apply when vetting new market submissions. Further technical documentation is expected alongside the testnet release.