In a significant development, Hyperliquid has unveiled the fee structure for its 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 skyrocketing 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 highlight of the fee structure is that initiating a position incurs no costs, with fees only applicable when closing or settling a trade. The documentation outlines six distinct scenarios, including minting, trading, burning, and settlement. Furthermore, traders utilizing Hyperliquid's aligned quote tokens are eligible for preferential 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 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 the existing perpetuals and spot positions, all within a single account, as Hyperliquid aims to rival platforms like Polymarket, which recently announced the upcoming launch of perpetual trading. Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has seen significant traction, 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.