In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial component of its prediction market-style trading platform, hinting at an imminent mainnet launch. The prediction market sector has witnessed explosive growth, with trading volumes soaring over 300% in 2025 to reach $63.5 billion, and Hyperliquid is strategically positioning itself to compete with established players like Kalshi and Polymarket.
A key aspect of Hyperliquid's fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The company has outlined six scenarios covering minting, trading, burning, and settlement, and traders using its aligned quote tokens can benefit from reduced taker fees and increased maker rebates. The introduction of outcome tokens, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events, alongside perpetuals and spot positions, within a single account, posing a competitive challenge to platforms like Polymarket. Following the success of its previous HIP-3 upgrade, which has accounted for over 35% of the platform's trading volume since its introduction in October 2025, Hyperliquid is now gearing up for its mainnet launch, although no official date has been confirmed, with outcome tokens currently available only on testnet.