In a significant development, Hyperliquid has unveiled the fee structure for its outcome tokens, which are instrumental in facilitating prediction market-style trading on the platform. This move suggests that the mainnet launch is imminent. The prediction market sector has emerged as one of the fastest-growing areas in crypto, with trading volume soaring over 300% in 2025 to $63.5 billion. Hyperliquid is strategically building infrastructure to compete with established players like Kalshi and Polymarket.
A key aspect of the fee structure is that initiating a position incurs no cost, 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 are offered 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 through 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. This move is aimed at competing with platforms like Polymarket, which recently announced the imminent launch of perpetual trading. Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has seen significant growth, 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.