In a significant development, Hyperliquid has released its fee structure for outcome tokens, which are the foundation of prediction market-style trading on the platform, hinting at an impending mainnet launch. The prediction market sector has seen a substantial surge in trading volume, exceeding 300% in 2025 to reach $63.5 billion, and Hyperliquid is establishing itself as a major player by developing infrastructure to rival existing platforms like Kalshi and Polymarket. A key feature of the fee structure is that there are no costs associated with opening a position, 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 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 perpetuals and spot positions, all within a single account, as the platform seeks to compete with the likes of Polymarket, which recently announced the upcoming launch of perpetual trading.
Hyperliquid's previous upgrade, HIP-3, which introduced permissionless perpetuals for developers, has accounted 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.