Hypertake is an independent web interface for Hyperliquid's HIP-4 prediction markets (outcomes) and perpetual futures. You connect your own wallet; every order is placed, matched and settled on Hyperliquid, and your money stays in your own Hyperliquid account. Hypertake is not affiliated with or endorsed by Hyperliquid. Markdown of this page: https://hypertake.net/docs/hyperliquid-and-hip-4.md. Full documentation index: https://hypertake.net/llms.txt
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Hyperliquid and HIP-4
What Hyperliquid is, what HIP-4 added, and why outcome markets there work the way they do
Hyperliquid is a blockchain built for trading: its order books, balances and settlement run on-chain, with no gas for trading. HIP-4 (Hyperliquid Improvement Proposal 4) added outcome markets to it: fully collateralised contracts that settle within a fixed range, used for prediction markets.
In Hyperliquid's words, outcomes are "fully collateralized contracts that settle within a fixed range", bringing "an alternative form of derivative trading that does not involve leverage or liquidations" (HIP-4).
Timeline
| Date (UTC) | What happened |
|---|---|
| 10 Mar 2026 | HIP-4 live on testnet: recurring binary options on Hyperliquid mark prices |
| 2 May 2026 | Live on mainnet; the first market, a daily BTC binary, settled at 06:00 UTC |
| 13 May 2026 | Multi-outcome questions, with split, merge and negate |
| 26 May 2026 | Markets on off-chain events (CPI, the Fed funds rate); USDC becomes the quote asset |
| 31 Aug 2026 | Permissionless deployment enabled on mainnet: approved deployers can create markets from validator-voted templates |
How an outcome market works
- Two sides
- Every outcome has a Yes token and a No token. Prices are in USDC, between 0 and 1 (shown as cents).
- Fully collateralised
- One Yes plus one No is always worth exactly 1 USDC at settlement, so every share is backed. There's no leverage and no liquidation.
- One shared book
- Yes and No share a merged order book: buying Yes at 40¢ is the same order as selling No at 60¢.
- Settlement
- At the close, Yes converts to the market's settle fraction of 1 USDC and No to the rest. For yes/no markets that's $1 or $0; a few markets can settle to a fraction. See Payouts.
- Who creates markets
- A few recurring markets are run by the protocol. Most are created by approved deployers from templates that validators vote on; deployers stake HYPE and settle their markets by the template's rules, and can be slashed for getting it wrong.
Market typesAbove, touch, ladders and multi-outcome questions.How markets settleWho decides the result, from which price, and when you're paid.
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