In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, which facilitate prediction market-style trading on the platform, hinting at an imminent mainnet launch. The prediction market sector has witnessed explosive growth, with trading volumes soaring over 300% in 2025 to $63.5 billion, and Hyperliquid is building infrastructure to rival 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. Users of Hyperliquid's aligned quote tokens can expect more favorable 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, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events alongside perpetuals and spot positions in a single account, positioning Hyperliquid to compete with platforms like Polymarket. Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has accounted for over 35% of the platform's trading volume since its launch in October 2025.
Currently, outcome tokens are only available on the testnet, with no confirmed mainnet launch date.