Hyperliquid’s token, HYPE, rose 10% over the past 24 hours after the decentralized exchange detailed HIP-4, a proposal to bring “outcome” trading to its platform.
The new contract type will support prediction markets and option-style derivatives, both long-requested features, according to the team.
“There has been extensive user demand in both of these areas, and builders are likely to think about new applications as well,” Hyperliquid wrote in a post on X.
Outcomes are contracts with full security that settle at a fixed price within a specified interval. They introduce dated markets and non-linear payouts to Hyperliquid’s system, which until now has focused on perpetual futures. Unlike traditional leveraged derivatives, results do not require margin trading or risk liquidations.
Results trading will launch on the testnet first, with mainnet implementation following once technical development is complete. Hyperliquid plans to start with a select set of markets before potentially opening the system to permissionless listings, pending user feedback, it said.
HYPE gained prominence over the past month after the exchange’s permissionless markets, which allow anyone to make markets for assets like crypto, stocks and gold by staking 500,000 HYPE tokens, exploded to record highs. The token has risen 33% over the past month.
