Hyperliquid HIP-4: The Transition from Perp DEX to Financial Superapp

Baheet explains that Hyperliquid's HIP-4 upgrade introduces Outcomes—binary prediction contracts settling in USDH—transforming the platform from an asset trading venue into one that prices truth. Cross-margining across perps and outcomes on a unified L1 lets traders hedge positions simultaneously rather than holding dead capital like on Polymarket or Kalshi, fundamentally reshaping prediction markets from gambling into portfolio risk management while expanding USDH demand beyond pure leverage.