In a significant development, Hyperliquid has released the fee structure for its outcome tokens, which underpin the platform's prediction market-style trading, indicating an imminent mainnet launch. The prediction market space has witnessed explosive growth, with trading volumes 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 aspect of the fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The document outlines six scenarios covering minting, trading, burning, and settlement.
Traders utilizing Hyperliquid's 'aligned quote tokens' can benefit from enhanced 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, facilitated by 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. The previous HIP-3 upgrade, 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 available only on the testnet, with no confirmed mainnet launch date.