According to the details disclosed in the official document, the timing for charging fees for outcome tokens is strictly limited: fees are incurred only upon settling or selling outcome tokens. This means that during the holding period, users do not bear additional real-time deduction pressure, and this mechanism design is clearly targeted to optimize for the unique holding logic of prediction markets.

Just a few minutes after the document update was issued, the official account released a short yet powerful message - "Yes for the HIP-4." This action was generally interpreted by the market as the formal approval of the HIP-4 proposal. From clarifying the timing of charges to confirming the proposal's approval, Hyperliquid used a combination of "mechanism confirmation + document implementation" to further clarify clues about the prediction market, which had previously been in a discussion stage. Although the specific fee percentage or more detailed scenarios for charging have not yet been disclosed in the public information, the statement of "following the testnet standards" has already led the community to shift its focus from mechanisms to the expectations of the mainnet's official launch rhythm.

Core of the Event: Outcome Token Charges Fees Only Upon Exit

In the document update disclosed by Hyperliquid, the fee logic for Outcome Tokens became the focus of the market's attention. According to the official statement, fees for this type of token are only charged upon settling or selling. This means that users do not incur additional platform holding costs during the ownership of the asset and throughout the holding period, with the financial pressure concentrated and deferred to the exit stage.

Although the official has not listed a fee schedule for specific operational scenarios such as minting, trading, and burning, this "charging only upon exit" mechanism has been interpreted by the community as a form of "participate first, settle later" experience. According to summaries from community channels, this design likely means that users do not have to pay fees during the position opening phase, thereby reducing the instant threshold for entering the prediction market.

This fee model built around Outcome Tokens essentially redefines the risk-reward structure of prediction markets. By deferring costs, the platform logically encourages longer holding behaviors rather than frequent short-term trading. While the specific fee values await the official's final systematic announcement, the establishment of this principle has laid the groundwork for observing the liquidity distribution and participant behavior in Hyperliquid's prediction market in the future.

Core of the Event: HIP-4 Approved, Prediction Market Moves a Step Closer

About two minutes after the document update information was released, Hyperliquid's official account followed up with the short reply "Yes for the HIP-4." Although the official did not elaborate on the complete content of the proposal in this information stream, this statement was widely seen as an official confirmation that HIP-4 has been approved. This action signifies that the relevant product line has rapidly transitioned from governance discussion to implementation phase.

Looking at the timeline, the document update and proposal confirmation appeared almost simultaneously. Around 2026-04-29 12:31, the official first solidified the fee rules and then immediately released governance signals. This tight sequence of actions shows that after confirming the mechanism, the official is quickly transforming it into public institutional constraints, effectively reducing market participants' concerns about changes to the new functional rules through the synchronous promotion of "mechanism confirmation + document implementation."

Based on current community discussions, HIP-4 is generally associated with the prediction market and outcome token design that Hyperliquid is preparing. Although the official statement remains restrained, hinting at the proposal's status with a confirmation phrase rather than disclosing specific fee percentages or systematic launch rhythms, the "green light" at the governance level has indeed been lit. In the absence of large participation actions or specific voting weight details, this narrative advancement from the official side has become the core logical anchor for currently observing the progress of Hyperliquid's prediction market.

Future Outlook: Information Remains Limited, What to Focus on Next

Although the "green light" at the governance level has been lit, the currently available public information about HIP-4 and outcome tokens remains highly restrained. According to observations by AiCoin, the official's actions at this stage primarily focus on the release of key signals of document updates and "proposal approval," with no systematic lengthy product descriptions or technical document links published, leaving the market's understanding of this module still at a preliminary stage.

In the absence of more details, future observation should focus on the following dimensions: first, a more detailed explanation of the charging rules; although the official emphasizes alignment with the testnet, whether there will be supplementary clauses under the mainnet's complex scenarios still needs confirmation; second, the official launch timeline for mainnet functions. As of 2026-04-30, the official has yet to disclose any specific date or phased operation plans for the implementation of the prediction market. Additionally, whether the official will release initial operating data related to this module will be an important indicator of its market attractiveness.

It is noteworthy that the briefing clearly indicates that the current public information does not show significant participation actions, and there are no signs of large-scale participants or fund movements directly related to HIP-4 on-chain. Although some channels in the community, like Grok, are circulating explanations about scenario-based fee discounts, these remain to be verified as unofficial information. For investors, it is essential to remain highly vigilant regarding possible governance proposals or parameter adjustments that may arise in the future; if the fee model changes during actual operation, existing logical judgments will face recalibration. Until the official main channel endorses more hard facts, maintaining a focus on the transparency of mechanisms is more important than blindly following narratives.

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