CumberlandPermissionless prediction markets will become available first on testnet and later on mainnet, Hyperliquid said.
Hyperliquid plans to add decentralized prediction markets in upgrade to HIP-4
Permissionless prediction markets will become available first on testnet and later on mainnet, Hyperliquid said.
Hyperliquid said a forthcoming enhancement to its recent HIP-4 upgrade will support permissionless deployment of prediction markets. Prediction markets are currently under the authority of validators. The feature means anyone will be able to offer a prediction market on the platform, subject to approved templates voted on by validators.
Hyperliquid said its HIP-4 upgrade, which introduced “outcome trading” to the decentralized exchange, will support permissionless deployment of the contracts in a future enhancement.
Once live, anyone will be able to offer a prediction market on the platform, subject to templates approved by validators, Hyperliquid said on Telegram on Sunday. In the meantime, they remain under the authority of validators.
Prediction markets, a sector dominated by Polymarket and Kalshi, allow participants to bet on event outcomes and have evolved into a multibillion-dollar sector of the blockchain industry. Users take positions on events from central bank interest-rate decisions to who performs at the Super Bowl halftime show.
The growing popularity of the platforms — the FIFA World Cup, which wrapped up Sunday with Spain winning its third title, drew more than $50 billion in bets — has attracted centralized trading platforms like Coinbase and Robinhood into the sector to offer customers a one-stop shop for predictions markets alongside more conventional financial trading.
HIP-4 went live on the mainnet in May. Once permissionless contracts become available, the validator-controlled markets will continue to exist, but are expected to be rare. Hyperliquid said “ideally,” there will be fewer than 10 of them per year.
Permissionless prediction markets will be available first on testnet and later on mainnet, Hyperliquid said.
Deployers will be required to stake 500,000 HYPE tokens that can be then slashed if a validator vote determines the prediction market to be poorly defined or settled incorrectly. Deployers will earn up to 50% of the revenue from trading fees, Hyperliquid added.
Hyperliquid’s native HYPE token rose 1% in the hours following the announcement, lifting from an intraday low of $59.88 to just over $60.50. It was trading recently at $60.79.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Exodus to cut 25% of global workforce in payments shift
AI compute stocks bounce as Hut 8, IREN land billions in new contracts
Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock