Hyperliquid HIP 4 Upgrade Brings Permissionless Prediction Markets

Hyperliquid recently announced its upcoming HIP 4 network upgrade. This change will allow users to deploy their own prediction markets for the first time. Previously, only platform validators could create these markets. The team plans to launch this feature on the testnet before bringing it to the mainnet.

To keep these markets accurate and reliable, Hyperliquid is introducing a system of validator approved templates. Anyone who wants to launch a market must stake 500,000 HYPE tokens, which will be locked for six months. Validators have the power to slash these stakes if a market is poorly defined or fails to settle within a week.

This update follows a major growth phase for prediction markets across the crypto industry. With over 50 billion dollars in volume recorded during June, Hyperliquid aims to capture more interest by allowing more creators into the space. The protocol will initially limit each deployer to 100 outcomes to maintain stability.

HYPE price action remains quiet despite the news. The token is currently trading near 60 dollars, reflecting a slight dip over the last day. While recent weeks have been tough for the asset, it remains up significantly over the past year. Traders should keep an eye on testnet progress and any further documentation updates from the team.