Hyperliquid is moving to challenge the prediction-market duopoly with a new product design that could reshape how traders hedge event risk on-chain—and potentially open a fresh growth path for its token, Hyperliquid (HYPE). In a recent report, Alea Research said Hyperliquid’s latest proposal, ‘HIP-4,’ brings binary ‘outcome contracts’ (yes/no markets) directly onto its native Layer-1 central limit order book (CLOB), while sharing ‘cross-margin’ with the platform’s flagship perpetual futures.
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