In a significant development, Hyperliquid has unveiled the fee structure for its 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 volume soaring over 300% in 2025 to $63.5 billion, and Hyperliquid is strategically building infrastructure to compete with established players like Kalshi and Polymarket. A key feature 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 perpetuals and spot positions, all within a single account, as Hyperliquid aims to rival platforms like Polymarket.
Following the successful introduction of permissionless perpetuals for developers through the HIP-3 upgrade, which now accounts for over 35% of the platform's trading volume since its launch in October 2025, outcome tokens are currently being tested on the testnet, with a mainnet launch date yet to be confirmed.