- HIP-4 Results market I support Unauthorized deployment In future network upgrades, testnet before expanding to main net.
- Adopters need to stake 500,000 $HYPEsubject to wager slash In the case of incorrectly defined or settled markets.
- Validator approves On-chain result templateDeployers, on the other hand, are responsible for creating and settling markets based on these templates.
Hyperliquid prepares for permissionless HIP-4 deployment
Hyperliquid has announced that its HIP-4 Results Market will support permissionless deployments in future network upgrades, with deployments planned to begin on testnet before expanding to mainnet. The move follows the platform’s previous approach to spot and permanent market deployments, where new features were first tested in validator-operated environments before broader participation was enabled.
This update marks the next step in the evolution of HIP-4, introducing a fully collateralized outcome market for event-based trading. Previous releases focused on formal markets operated by validators, while the protocol tested payment mechanisms, infrastructure, and market operations. The latest announcement shifts the focus to enabling third-party builders to launch markets without the need to directly deploy validators, while maintaining marketplace quality and payment governance protections.
According to Hyperliquid, permissionless deployment is particularly important because the number of potential event-based markets is much larger than the range of assets available for perpetual futures or spot tokenization.
- 500,000 $HYPE Bet: Mandatory for all HIP-4 adopters, it significantly reduces the six-month lock period and penalties for improperly defined or settled markets.
- Initial results of 100: Each deployer can initially create up to 100 results (200 result tokens), and committed results free up allocations for future deployments.
- Up to 50% handling fee: HIP-4 adopters will be able to set commission burdens of up to 50% in adopted markets in a future protocol update.
Validators approve templates while deployers create markets
In the proposed framework, validators vote on standardized result templates that serve as the basis for permissionless deployment. These template specifications are stored and applied on-chain to promote consistency and reduce ambiguity.
The approved template is intended to represent a market with sufficient liquidity and public interest. Once the template is approved, the HIP-4 deployer can instantiate the template without requiring additional validator approval.
The deployer remains responsible for defining each market and settling it according to the settlement criteria specified in the selected template. Hyperliquid said multiple deployers will be allowed to launch the same market instance using the same approved template.
A legitimate results market created directly through validator voting will continue to exist, but its use is expected to be sparing. Hyperliquid says that markets where these validators are deployed will ideally see fewer than 10 results or questions per year.
500K $HYPE Staking, slash rules, and deployment limits
To participate as a HIP-4 deployer, users must stake 500,000 $HYPE. Similar to the HIP-3 rollout, stakes will remain locked for 6 months.
The protocol also introduces slash conditions designed to facilitate accurate market formation and settlement. If a market is poorly defined, is incorrectly settled according to an approved template, or has not been incorrectly settled for more than a week, validator votes may reduce the deployer’s stake.
Long-term resulting markets are a key consideration for builders, as deployers must settle all active markets before unstaking.
Initially, each deployer receives an allocation of 100 results, which equals 200 result tokens. Multiple outcome questions may consume multiple allocation slots. Once the results are finalized, the assignment can be reused. Hyperliquid also said it plans to introduce an auction mechanism in a future update, allowing deployers to increase their share of results.
HIP-4 deployers will eventually be able to configure up to 50% rate sharing in the markets they deploy, but the ability to configure rates will be introduced in a later release. The protocol also confirmed that only AQAv2 quote tokens are eligible for the HIP-4 market.
Recently, Hyperliquid was added to the Monetary Authority of Singapore’s (MAS) Investor Alert List (IAL). This list identifies entities that may be incorrectly identified as authorized or regulated by MAS. HyperLiquid said the list does not constitute a ban, enforcement action, or finding of fraud, reiterating that it acts as a permissionless infrastructure where users retain self-control and transactions are transparently settled on-chain.
The announcement states that all specifications are preliminary and subject to change based on community feedback. Hyperliquid said another announcement will be made once permissionless deployments are enabled on the testnet and official documentation is updated.
HIP-4 will be rolled out in stages throughout 2026. Hyperliquid first introduced Outcome Markets on its testnet for technical validation before launching a regular market tied to mainnet support and objective real-world events with limited functionality. The newly announced permissionless deployment framework represents the next planned milestone, extending market creation capabilities beyond validator-operated deployments while maintaining validator oversight through template approval and slash mechanisms.
