Hyperliquid’s token HYPE is up 10% in the past 24 hours after the decentralized exchange detailed HIP-4, a proposal to bring “outcome” trading to its platform.
The team said the new contract types will support prediction markets and options-style derivatives, long-requested features.
“Both areas have widespread user demand, and developers may also consider novel applications,” Hyperliquid wrote in a post on X.
The result is a fully collateralized contract that settles at a fixed price within a specified range. They introduced stale markets and non-linear returns to the Hyperliquid system, which until now has been focused on perpetual futures. Unlike traditional leveraged derivatives, the results require no margin trading or risk clearing.
As a result, trading will first be launched on the testnet, and the mainnet will be deployed after the technology development is completed. Hyperliquid said it plans to start with a curated set of marketplaces and then potentially open the system to a permissionless list, pending user feedback.
HYPE has gained traction over the past month and hit an all-time high following the exchange’s permissionless market, which allows anyone to create markets for assets such as cryptocurrencies, stocks and gold by staking 500,000 HYPE tokens. The coin has gained 33% in the past month.
