In a significant development, Hyperliquid has unveiled the fee structure for its outcome tokens, which underpin prediction market-style trading on the platform, hinting at an imminent mainnet launch. The prediction market sector has witnessed explosive growth, with trading volume increasing by over 300% in 2025 to reach $63.5 billion, and Hyperliquid is strategically building 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 structure 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 full 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 aims to rival competitors like Polymarket. Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has seen significant adoption, accounting for over 35% of the platform's total trading volume since its introduction in October 2025. Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.