Hyperliquid: Native — Taking another step into the heart of prediction markets, with an entry threshold of 500,000 HYPE. @HyperliquidX has announced that, in the future, everyone will be able to deploy permissionless Outcome Markets via HIP-4, initially on testnet before gradually rolling out to mainnet. Developers can create their own outcome markets using standardized templates approved by validators. Initially, each deployer is limited to 100 outcome slots, equivalent to 200 Outcome Tokens, and must stake 500,000 HYPE with a six-month lock-up period. HIP-4 is essentially Hyperliquid’s prediction market infrastructure. Users can trade outcome contracts on events such as Bitcoin price movements, Fed interest rates, CPI data, sports events, and elections. Prices typically fluctuate between 0 and 1 and are settled based on the final outcome. These contracts are fully collateralized, with no leverage or liquidation risk, and are directly integrated with HyperCore, sharing accounts, funds, and order books with spot and perpetual contracts. Since its launch in May this year, HIP-4 has generated approximately $100 million in trading volume within its first month. The significance of this expansion lies in long-term value capture for HYPE: every deployer must lock up 500,000 HYPE long-term, and the more markets they create, the greater the demand for HYPE staking. Deployers can also earn up to 50% of trading fees from their markets. However, the high staking requirement concentrates early participation among well-capitalized teams—similar to how tradeXYZ hoards stickers. Additionally, even with sufficient capital, outcome settlement remains heavily dependent on validators, and political, legal, or social events may still face definitional disputes.