In a significant development, Hyperliquid has unveiled its fee structure for outcome tokens, a crucial component of its prediction market-style trading 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 positioning itself to compete with established players like Kalshi and Polymarket.
A key aspect of Hyperliquid's fee structure is that initiating a position is free, with fees only applicable when closing or settling a trade. The company has outlined six scenarios covering minting, trading, burning, and settlement, and offers preferential rates to traders utilizing its aligned quote tokens, 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, in addition to Hyperliquid's existing perpetuals and spot positions, all within a single account, as the platform seeks to rival competitors 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.