Shockingly Stable: Outcome Trading Testnet Delivers Fully Collateralized Bets

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The dust of the ledger hung in the air as Hyperliquid rolled out Outcome Trading on its testnet, a contraption promised to stand straight in a field of windy bets. Fully funded contracts, no leverage to drag a soul down, and the quiet rumor that mainnet may follow after a patient, sunburned testing season. If it works, the town might tip its hat; if not, well, there are plenty of other sunrises to sell.

Summary

  • Hyperliquid launched Outcome Trading under HIP-4.
  • Contracts are fully collateralized with no leverage.
  • Mainnet launch may follow after testing.

On February 2, the door rattled with a note that “Outcome Trading” had taken the field on the testnet under Hyperliquid Improvement Proposal 4.

The new feature allows users to trade fully collateralized outcome contracts that settle within a fixed price range.

What is Outcome Trading and how it works

These contracts are a chorus of tomorrow- elections, games, data, the weather of money. They hinge on what will happen, not on borrowed promises, and they don’t ride on leverage the way old derivatives do.

Traders must fund their positions in full, which lowers the risk of forced liquidations. The design aims for a steadier, clearer way to trade events that refuse to be predictable.

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…

– Hyperliquid (@HyperliquidX) February 2, 2026

Hyperliquid (HYPE) says the system brings non-linear payouts and time-based settlement, giving traders more ways to express what they think. It is also a response to a clamor from users seeking lower-risk options beside perpetual futures.

Outcome Trading is built to work alongside existing tools such as portfolio margin and HyperEVM. This allows developers to blend outcome contracts with other decentralized applications on the platform.

At this stage, the feature is only available on testnet and remains under active development. Hyperliquid plans to launch curated “canonical” markets once testing is complete. These markets will be settled in USDH, the platform’s stablecoin, and will rely on objective data sources to reduce disputes.

If user feedback is positive, the company may later allow permissionless market creation, enabling anyone to launch outcome-based contracts.

Why this matters for Hyperliquid and the market

The launch comes as Hyperliquid keeps pushing beyond its roots in perpetual futures. Earlier updates, including HIP-3, opened the door to permissionless markets for tokenized stocks, commodities, and other real-world assets.

Those changes have driven trading volumes and open interest to new highs, with several ecosystem projects reporting solid growth after the upgrades. With the introduction of outcome trading, Hyperliquid is stepping into the fast-growing prediction market, already dominated by Polymarket and Kalshi.

The feature might roll out on the mainnet later in 2026 if it catches on with the testnet crowd. A smooth rollout would cement Hyperliquid’s evolution into a multi-product, on-chain derivatives playground.

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2026-02-03 06:58