In a significant development, Hyperliquid has released the fee structure for its outcome tokens, which facilitate prediction market-style trading on the platform, indicating a mainnet launch is imminent. The prediction market sector has witnessed explosive growth, with trading volume increasing by over 300% in 2025 to $63.5 billion, and Hyperliquid is establishing itself as a major player by building infrastructure to rival established platforms 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 eligible for 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 to developers. The introduction of outcome tokens, as part of the HIP-4 upgrade, will enable users to trade binary contracts on real-world events alongside perpetuals and spot positions in a single account, positioning Hyperliquid to compete with platforms like Polymarket, which has announced plans to introduce perpetual trading soon. 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.