In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, which are essential for prediction market-style trading on the platform, hinting at an imminent mainnet launch. The prediction market space has witnessed an impressive surge in trading volume, exceeding 300% in 2025 to reach $63.5 billion, and Hyperliquid is strategically building its 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 a trade is closed or settled. The structure outlines six distinct scenarios, including minting, trading, burning, and settlement.
Traders utilizing Hyperliquid's aligned quote tokens can benefit from 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 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 compete with platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, which allowed developers to access permissionless perpetuals, has contributed to 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.