Hyperliquid Launches HIP-4 on Testnet, Plans to Introduce BTC and HYPE One-Day Expiry Binary Markets

ChainCatcher report: Hyperliquid has officially launched HIP-4 on testnet. The initial outcome-based markets introduced are periodic binary options based on HyperCore's mark price; users can view these markets under the “Predict” section on the testnet interface. These outcome contracts are fully collateralized, settle within a fixed price range, and feature nonlinear payoffs and expiration times, without leveraging or liquidation mechanisms. Hyperliquid also stated that future plans include launching one-day expiry binary markets for BTC and HYPE. The protocol is designed to support multi-outcome markets, though this functionality is not included in the initial release. Previously, Hyperliquid disclosed that its next network upgrade will transition portfolio margining from pre-alpha to alpha stage, expanding eligibility from test accounts to portfolios under $500,000. Portfolio margining will be enabled for main accounts with a weighted trading volume exceeding $5 million, with supply and borrowing limits set per asset: 1) Total USDH supply cap at 500 million tokens and total borrowing cap at 100 million tokens; 2) Per-user USDH supply cap at 5 million tokens and per-user borrowing cap at 1 million tokens.