Overview
- Hyperliquid activated HIP‑4 on May 2 and on May 25 expanded it so the platform’s validator set can publish, deploy and vote to settle canonical off‑chain outcome markets.
- The first U.S. macro market, a May CPI year‑over‑year outcome, is live and will settle to Bureau of Labor Statistics data on June 10, 2026.
- HIP‑4 outcome contracts are fully collateralized binary instruments that settle to 0 or 1, carry no leverage or liquidations, and limit a trader’s loss to the principal posted.
- Hyperliquid runs these markets inside its existing centralized limit order book and unified margin system, letting traders use one account and shared collateral across perps and event contracts.
- Early traction is split: bitcoin binaries posted very high day‑one volume while the CPI market shows only small initial trading, and the validator‑as‑oracle design has drawn attention from institutional players and scrutiny from legacy market observers and regulators.