Platform · Binary Markets
Hyperliquid HIP-4
Zero-fee, fully collateralized binary outcome contracts in the same CLOB as Hyperliquid perps · mainnet May 2, 2026.
- Mechanism
- Binary Markets
- Chain
- Hyperliquid (Hypercore + HyperEVM)
- Status
- Live
- Founded
- 2023
- Market types
- Binary
- Audience
- Crypto-native · Power user · Quant · Builder/infra · Institutional
- Website
- app.hyperliquid.xyz
- @HyperliquidX
Pricing mechanism
Onchain CLOB
Settlement
Centralized operator (oracle), with optional challenge windows
Strengths
- Zero fees to open
- Unified margin with perps
- 200k OPS execution engine
- Pro-trader distribution moat
- Permissionless market deployer (phase 2)
Weaknesses
- Narrow initial markets (BTC threshold)
- Oracle architecture for non-crypto unspecified
- Closed-source L1
- 1M HYPE staking gate is high
- Competing with own perps for attention
About this mechanism
Yes/No or multi-outcome shares priced via AMM or CLOB. The largest category by platform count · the volume of onchain competition for what most people picture when they hear 'prediction market'.