Hyperliquid is preparing to test permissionless deployment of HIP-4 outcome markets on testnet before mainnet, according to an official Sunday announcement. Deployers must stake 500,000 HYPE tokens and face potential slashing for settlement failures. Validators will approve standard outcome templates to handle rapid market growth. Meanwhile, Bitwise has added HYPE to its Bitwise 10 Crypto Index ETF with a 0.95% allocation, citing $1.34 trillion in trading volume and $320 million in revenue in the first half of 2026.
Hyperliquid will allow open deployment of HIP-4 outcome markets, starting on testnet before moving to mainnet. The project stated that validators cannot review every possible question because the number of markets may grow quickly.
Hyperliquid will instead ask validators to approve standard outcome templates, which outline required market structure and are enforced on-chain. Qualified deployers can list markets without separate validation votes per listing.
Deployers must stake 500,000 HYPE tokens to participate in the program, locked for six months per HIP-3 requirements. Validators can penalize this stake partially or fully for unclear deployments, settlement errors, or delays exceeding one week.
Each deployer begins with capacity for 100 outcomes, receiving 200 outcome tokens. Multi-outcome markets consume more capacity, while settled listings free up room.
Hyperliquid also plans an auction mechanism for deployers wanting additional capacity, with fees up to 50% on each market creator’s listings. The team described the proposal as preliminary and subject to community feedback.
HIP-4, announced last month, marked Hyperliquid’s debut of prediction markets. According to the project, the feature generated approximately $100 million in trading volume within its first month.
Bitwise included HYPE in its Bitwise 10 Crypto Index ETF earlier this month, with an allocation of about 0.95%. Bitwise stated: “Hyperliquid’s rise has been meteoric. In the first half of 2026 alone: $1.34T in trading volume, $320M in revenue, HYPE up 165% YTD.”
