In a significant development, Hyperliquid has unveiled the fee structure for its outcome tokens, which are set to underpin prediction market-style trading on the platform, hinting at an imminent mainnet launch. The prediction market space has witnessed explosive growth, with trading volumes soaring over 300% in 2025 to reach $63.5 billion, and Hyperliquid is strategically building infrastructure to rival established players like Kalshi and Polymarket.
A key aspect of the fee structure is that initiating a position is free, with fees only applicable when closing or settling a trade. The structure outlines six distinct 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 comprehensive fee formula has been made available to developers.
The introduction of outcome tokens, facilitated by the HIP-4 upgrade, will enable users to trade binary contracts on real-world events, in addition to the platform's existing perpetuals and spot positions, all within a single account. This move is seen as a direct challenge to platforms like Polymarket, which recently announced plans to introduce perpetual trading. 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.