Hyperliquid plans to launch permissionless Outcome Markets with its upcoming HIP-4 network upgrade. The rollout will start on the testnet and move to the mainnet after enough testing.
The team says the technology needs to be tested in real-world validator environments to make sure the network stays stable. Once live, the upgrade will let developers create outcome markets without needing approval, as long as they use approved on-chain templates and follow governance rules.
Hyperliquid says outcome markets can cover a wider range of events than traditional spot or perpetual futures markets. The company believes making these markets permissionless will help grow the ecosystem and get more developers involved.
Validators will approve standard templates for different types of outcome markets to keep things consistent. These templates will be stored on-chain and set the rules for creating and settling markets. Developers can launch markets with any approved template, and several deployers can use the same template to create separate markets.
BREAKING: HIP-4 ( OUTCOME markets ) will support PERMISSIONLESS DEPLOYMENT.
We are Ready.
Hyperliquid. pic.twitter.com/Z7mPEueSqm
— Outcome (@Outcomexyz) July 20, 2026
The proposal adds financial safeguards. Anyone who wants to deploy HIP-4 outcome markets must stake 500,000 HYPE tokens. If a market is unclear, settled incorrectly, or stays unresolved for over a week after the outcome is known, validators can vote to reduce the deployer’s stake.
The staking period will last six months, and all markets must be settled before the stake can be withdrawn. At first, each deployer can create up to 100 outcomes, which equals 200 Outcome Tokens. Hyperliquid says an auction system will be added later to raise this limit.
The proposal lets deployers earn a share of market fees. In future versions, they may be able to set fee shares up to 50% for their markets. Tools for setting these rates will come in a later update.
Even with permissionless deployment, Hyperliquid says validators can still create official standard markets. However, there will likely be fewer than 10 of these each year.
The company says the current design is still early and could change with community feedback. More technical details will be shared when permissionless deployment starts on the testnet and the official documentation is updated.
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