In this piece, we propose HIP-4: Event Perpetuals —a primitive that allows builders to deploy prediction perps similar to HIP-3.
We propose an opening auction and continuous trading without external oracles, with price clamping to the interval [0, 1], and a one-time resolution mechanism.
HIP 4 - Event Perpetuals
In this post @rajivpoc@j0hnwang@0xmarc and @0xkrane introduce "Event Perpetuals", a practical design for launching builder-deployed prediction markets on @HyperliquidX
seeing some folks get 404s on the original link for our proposal for HIP-4, based on feedback we changed the name from "Perpetuals" to "Futures"
new link is here: https://t.co/0HndVIv0HF
https://t.co/Q0NaNAyIUM
HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been extensive user demand in both of these areas, and builders will likely think of novel applications as well.
Outcomes bring non-linearity, dated contracts, and an alternative form of derivative trading that does not involve leverage or liquidations. The outcome primitive expands the expressivity of HyperCore, while composing with other primitives such as portfolio margin and the HyperEVM.
Outcomes are a work in progress and currently only being tested on testnet. Canonical markets based on objective settlement sources will be deployed once technical development is complete. Canonical markets will be denominated in USDH. Pending user feedback, the infrastructure will be extended to permissionless deployment.