Decentralised derivatives trading platform Hyperliquid has announced plans to expand into prediction markets, and its HYPE token jumped 20 percent, Cointelegraph reported on Feb. 3.
The plan to enter prediction markets took shape as HyperCore backed the HIP-4 proposal on Hyperliquid’s layer-1 network.
Once the new feature is introduced, fully collateralised contracts will allow users on Hyperliquid to bet on various markets such as political elections and sports. Hyperliquid said on X that the move responds to strong demand from users, and stressed that HIP-4 will serve as a foundation for building innovative applications in the future.
The prediction market feature is structured to settle within a certain range without leverage, liquidation or margin calls, and is currently being tested on a testnet. Once officially launched, it is set to be settled in Hyperliquid’s stablecoin USDH.
Chi-gyu Hwang
delight@d-today.co.kr