Hyperliquid's (HIP-4) is cool:If Outcomes compose with perps, you can long ETH + buy an 'ETH below $2k' outcome as a hedge, and your margin drops because the positions offset each other.Polymarket or Kalshi can't do this.Another innovation is permissionless deployment.Polymarket curates its markets but if Hyperliquid lets anyone create markets, the long tail of degen markets opens up.I'd like governance vote events or maybe degen memecoin events?Probably will require some $HYPE staking like HIP3? Otherwise ...

Core Insights - Hyperliquid's token, HYPE, increased by 10% in the last 24 hours following the announcement of HIP-4, a proposal to introduce "outcome" trading to its platform [1] - The new contract type will support prediction markets and options-style derivatives, which have been in high demand from users [1] - HYPE has seen a 33% increase over the past month, driven by the success of the exchange's permissionless markets [4] Group 1 - Outcome trading will be fully collateralized contracts that settle at a fixed price within a specified range, introducing dated markets and non-linear payoffs to Hyperliquid's system [2] - Unlike traditional leveraged derivatives, outcome contracts do not require margin trading or risk liquidations [2] - The launch of outcome trading will first occur on testnet, with mainnet deployment to follow after technical development is complete [3] Group 2 - Hyperliquid plans to start with a curated set of markets for outcome trading before potentially allowing permissionless listings based on user feedback [3] - The exchange's permissionless markets have allowed users to create markets on various assets by staking 500,000 HYPE tokens, leading to record highs [4]