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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
Marc retweeted
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: bedlamresear.ch/posts/hip-4-…
nitter.cf/bedlamresearch/status/…
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
Marc retweeted
I'm one of four (non foundation) people on this earth to draft a HIP.
Amazing to write hypstory.
thanks @rajivpoc @0xkrane and @j0hnwang
hyperliquid
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.
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Marc retweeted
1/ We added per-address stats to our @HyperliquidX Wrapped.
Look up any address to see its 2025 Wrapped!
wrapped.hyperscreener.asxn.x…
We just released our @HyperliquidX Wrapped, covering what happened across the HyperCore and HyperEVM over the past year!
You can find it here:
wrapped.hyperscreener.asxn.x…
Ventuals is a natural fit for HIP-4 because:
- its a prediction market for upcoming funding rounds.
- HIP-3 oracle constraints don't allow price discovery.
- nobody wants to be short here
"Will SpaceX's valuation be >500b in their next funding round?" makes more sense.
Updates we’re making to Ventuals market parameters this week to facilitate more natural price discovery:
1. More responsive oracle
2. Expanded mark price bands
3. Dynamic funding rates
Full details below.
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Marc retweeted
The asset ID for the collateral token for flx:TSLA is 360, which is USDH by @nativemarkets.
This makes the upcoming TSLA/USDH market the first HIP-3 and equity market where USDH will act as the quote asset.
best savings product ever
Oldest coin, best coin
“Hypergamble into elite status” has become the prevailing narrative in crypto. Everyone’s been led to believe the working class will be rendered obsolete and that we only have 2-3 years left to “make it” before the world spontaneously combusts.
While there are plenty of good reasons to be long financialization, the pendulum may have swung too far. Even if speculation has found its product–market fit, living with a 20x leverage slider two inches from one’s life savings can’t be good for the human psyche.
@dawndotxyz is @asula_labs' first product and our opinionated response to the culture of hyper-gambling. Bitcoin is the greatest savings asset ever created. Stablecoins have the potential to be the world’s most efficient payments asset. To bring the next generation onto crypto rails, we need to build sustainable financial services around these two principle asset classes. Even foundational services like insurance and credit become meaningfully differentiated when built on better rails with better assets.
However, we're far from this future and need input from real users to get there. If you'd like to be one of the first users of @dawndotxyz please join the waitlist: dawn.xyz
Also, please reach out to me on twitter or tg if you have thoughts/opinions/ideas on how to make dawn the best savings product ever.
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Marc retweeted
Oldest coin, best coin
“Hypergamble into elite status” has become the prevailing narrative in crypto. Everyone’s been led to believe the working class will be rendered obsolete and that we only have 2-3 years left to “make it” before the world spontaneously combusts.
While there are plenty of good reasons to be long financialization, the pendulum may have swung too far. Even if speculation has found its product–market fit, living with a 20x leverage slider two inches from one’s life savings can’t be good for the human psyche.
@dawndotxyz is @asula_labs' first product and our opinionated response to the culture of hyper-gambling. Bitcoin is the greatest savings asset ever created. Stablecoins have the potential to be the world’s most efficient payments asset. To bring the next generation onto crypto rails, we need to build sustainable financial services around these two principle asset classes. Even foundational services like insurance and credit become meaningfully differentiated when built on better rails with better assets.
However, we're far from this future and need input from real users to get there. If you'd like to be one of the first users of @dawndotxyz please join the waitlist: dawn.xyz
Also, please reach out to me on twitter or tg if you have thoughts/opinions/ideas on how to make dawn the best savings product ever.
Marc retweeted
Jeff is the goat and here is our response!
Update: Jeff is the goat
Looking forward to continued discussion on this topic. I feel lucky to have a team whose DNA is to listen to their community (users) -- one of the simplest things you can do in any business, yet so many fail to do so
Hyperliquid has everything necessary to become the AWS of liquidity for prediction markets, and HIP-4 is the path to get there
Prediction markets are a nascent, rapidly growing industry with a huge TAM; however, most providers today lack in both UI and liquidity
Hyperliquid has the potential to disrupt prediction markets as a high-frequency, purpose-built L1 for trading. Further, a permissionless deployment model (unique to HL) is a critical feature for scaling a product offering with a near-endless array of markets
Market making infrastructure is equally essential and is a necessary component to evolve prediction markets into their next form. So many markets today are starving for orderbook depth, including categories that could be easily hedged or solved (e.g. sports markets and price prediction markets which are pseudo-options)
Liquidity proximity to MMs & power users can help fuel volume & orderbook depth as well -- a major selling point for HIP-3, and now, possibly HIP-4
TLDR; prediction markets today leave much to be desired. Hyperliquid has the opportunity to utilize its infrastructure to become a major player in a highly sought after industry, without the burden of all that comes with launching said markets. This is the beauty of permissionless deployment and being the AWS of liquidity
The blockchain to house all finance is being built before our eyes
Hyperliquid
Marc retweeted
you can watch this 2D animation i made for HIP-4 nitter.cf/Chidebeko/status/19682…
HIP-4 The future of Prediction Market powered by @HyperliquidX
the story of decentralised prediction markets has been one of the big ambitions and constant hurdles.
from the early pioneers like Augur to modern leaders like @Polymarket, the promise has always been the same; harness collective intelligence to forecast the future, without the biases of tradfi.
now @HyperliquidX 's new proposal, HIP-4, marks a fundamental redesign.
but why was HIP-3 not enough?
and how does HIP-4 re-engineer the mechanics of Prediction markets to finally unlock their full potential?
you'll find answers in this video.
I'd love your review on this @j0hnwang
@rajivpoc @0xkrane
I'm one of four (non foundation) people on this earth to draft a HIP.
Amazing to write hypstory.
thanks @rajivpoc @0xkrane and @j0hnwang
Marc retweeted
A month ago I wrote about Prediction Market Perps on @HyperliquidX and saw HIP-3 wasn’t built for the job.
Now I’m contributing to a community proposal that rebuilds permissionless PMPs from first-principles:
🤝 Binary payoff settlement
✅ No oracle/funding manipulation
👍 1x Leverage Cap
📈 Opening clearing auction
Hyperliquid.
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