In the world of cryptocurrency, we are accustomed to trading the rise and fall of tokens, to the fluctuations of traditional assets like gold and the S&P (HIP-3). But what if events like "does a certain policy take effect," "which team can win the World Cup," or "can a certain product be released on time" could also become precisely priced trading subjects?
This is the "nuclear-level killer move" that Hyperliquid will release in its upcoming network upgrade -- HIP-4 permissionless deployment.
Recently, Hyperliquid core member jeff_hl personally released a long announcement, declaring that the HIP-4 prediction market will achieve true platform-based expansion. This news has triggered a huge response in the community, not only because it will completely change the landscape of on-chain prediction markets but also because it brings substantial value empowerment to the HYPE token.
HIP-3 guesses prices, HIP-4 guesses outcomes
To understand the power of HIP-4, we first need to clarify its essential difference from HIP-3.
HIP-3 solves the issue of "can more assets be traded on Hyperliquid?" When you go long or short on Nvidia or Changxin Storage, you are essentially trading the rise and fall of the future price of an asset.
On the other hand, HIP-4 solves the issue of "can more events be priced?" What it trades is not price, but rather the "will a certain event ultimately happen or not?" outcome.
As jeff_hl mentioned in the announcement, the number of tradable events far exceeds the underlying asset quantity that spot and perpetual contracts can cover. Politics, sports, macroeconomics, corporate events, technological advancements, theoretically, everything can become part of the HIP-4 market.
The "tightening spell" and "big cake" of permissionless deployment
Though called "permissionless deployment," it does not mean a zero-threshold wild growth. To avoid common issues of "vague questions" and "settlement disputes" in traditional prediction markets, Hyperliquid has designed an exceptionally clever game mechanism:
1. Template constraints: Validators do not review specific questions, but rather vote to approve "market templates." Deployers must create markets within the framework of the template's rules, ensuring that time, scope, data sources, and settlement standards are clear and accurate.
2. 500,000 HYPE staking and slashing mechanism: Want to be a "banker"? First stake 500,000 HYPE and lock it for 6 months. If the market is poorly defined, incorrectly settled, or overdue for settlement, validators can vote to slash (forfeit) your stake.
3. Up to 50% generous sharing: High risk comes with high rewards. Deployers can set a maximum of 50% transaction fee sharing. This clarifies HIP-4’s business model: you are responsible for discovering events, designing markets, attracting liquidity, and ensuring settlements, while the protocol shares half the transaction fees with you.
This design decentralizes the right to "open markets" to ecosystem teams while using real monetary stakes and slashing mechanisms to hold them accountable for outcomes. The same question even allows multiple deployers to launch repeated markets, allowing the market to determine the best through competition.
The super deflationary engine of HYPE
For HYPE holders, the permissionless deployment of HIP-4 is an extremely clear positive.
Every team wanting to deploy a prediction market must purchase and lock 500,000 HYPE from the market for six months. With potentially hundreds or thousands of prediction markets emerging in the future, this will create substantial locking demand and deflationary effects for HYPE.
More importantly, Outcome Markets will greatly expand the ecological boundaries of Hyperliquid, bringing in massive new users and long-term activity, all of which will eventually convert into protocol revenue and value capture for HYPE.
Liquidity is the key to victory
On-chain data shows that the current cumulative transaction volume of HIP-4 is approximately $370 million, with sports markets (like the World Cup) taking up a considerable portion. However, the number of actively trading users remains relatively low.
As analysts have pointed out, the biggest challenge facing HIP-4 now is not whether markets can be opened, but rather whether liquidity is sufficient and whether ordinary users will participate.
For ordinary users, to participate in this "everything can be traded" feast, what is most needed is a smooth, convenient, and clearly data-driven trading entry.
This is exactly the strength of AiCoin mobile app.
As a trading terminal deeply integrated with Hyperliquid, AiCoin not only solves the cumbersome pain points of on-chain interactions but also provides powerful data empowerment:
1. Rapid participation in prediction markets: No cumbersome web wallet authorization is required; you can participate in trading anytime and anywhere through the AiCoin mobile app, never missing a betting opportunity on any hot event.
2. Smart money movement tracking: Before the results of events are revealed, the movement of funds is often more acute than news. With AiCoin's fund monitoring feature, you can track real-time movements of whales across various prediction markets to gain insights into the "smart money" strategies.
3. Aggregated market data: AiCoin can provide you with a unified and clear market dashboard and asset management experience.
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When the era of everything can be priced arrives, those holding the best trading tools will be the ultimate winners.
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- "AiCoin PC Hyperliquid Authorization Trading Tutorial":
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- "Zero-based Entry! Hyperliquid First Trading Super Detailed Illustrated Tutorial":
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