Hyperliquid has released its fee structure for outcome tokens, a key indicator that the platform's mainnet launch is imminent. The prediction market sector has seen a significant surge in trading volume, exceeding $63.5 billion in 2025, with Hyperliquid developing infrastructure to compete with established players like Kalshi and Polymarket.
A notable feature of the fee structure is that opening a position is free, with fees only applicable when closing or settling a trade. The platform outlines six scenarios, including minting, trading, burning, and settlement, with reduced fees for traders using aligned quote tokens. 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, using a single account.
This move is seen as a direct challenge to platforms like Polymarket, which has announced plans to introduce perpetual trading soon. Hyperliquid's previous upgrade, HIP-3, has seen significant adoption, with permissionless perpetuals accounting for over 35% of the platform's trading volume since its introduction in October 2025. Currently, outcome tokens are only available on testnet, with no confirmed mainnet launch date.