In a significant development, Hyperliquid has released its fee structure for outcome tokens, which are the foundational assets for prediction market-style trading on the platform, indicating that a mainnet launch is imminent. The prediction market sector has emerged as one of the fastest-growing areas in crypto, with a staggering 300% surge in trading volume in 2025, reaching $63.5 billion. Hyperliquid is strategically building the infrastructure to compete with established players like Kalshi and Polymarket.
A key aspect of the fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The document outlines six scenarios, including minting, trading, burning, and settlement.
Traders utilizing Hyperliquid's 'aligned quote tokens' are offered preferential rates, with taker fees reduced by 20% and maker rebates increased by 50% compared to standard rates. The comprehensive fee formula has been made available for developers. The introduction of outcome tokens through the HIP-4 upgrade will enable users to trade binary contracts on real-world events, in addition to Hyperliquid's existing perpetuals and spot positions, all within a single account, as the platform seeks to rival competitors like Polymarket, which recently announced the upcoming launch of perpetual trading.
Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has witnessed significant growth, accounting for over 35% of the platform's total trading volume since its introduction in October 2025. Currently, outcome tokens are available only on the testnet, with no confirmed mainnet launch date.