Hyperliquid Opens Permissionless Markets for 500k HYPE

The Hyperliquid blockchain platform has announced a major upgrade that will allow any user to create prediction markets on its exchange, moving from a curated system to a permissionless model. The change, part of the ongoing evolution of its HIP4 outcome markets feature, will first be deployed on a test network before a mainnet launch.

To create a market, a user must stake 500,000 HYPE tokens, the platform's native cryptocurrency. This stake is designed to ensure commitment and can be partially or fully slashed by the network's validators if a market is ambiguously defined, settled incorrectly, or left unresolved for more than a week after its outcome is due. The staked tokens would remain locked for six months, and creators must settle all their outstanding markets before withdrawing their stake.

The shift represents a significant step toward decentralization for the platform. Since the initial launch of HIP4 prediction markets on the mainnet on May 2, the team has manually approved each market. The new permissionless phase will enable builders to deploy event contracts without individual approval, provided they use validator-approved templates. These templates, which will be...