2 posts tagged with "prediction-markets"

Hyperliquid's HIP-4 just went live, and the headline is about prediction markets competing with Polymarket and Kalshi. That framing is correct but incomplete.

The more interesting story for LPs is buried one layer deeper: every HIP-4 position is fully collateralized and settled in USDH, Hyperliquid's native stablecoin. That creates a recurring, structural source of exit flow — and if you are sitting in a USDH pair with tight liquidity, that flow routes through you.

On March 6, 2026, Polymarket extended taker fees and maker rebates to all crypto markets, not just the short-dated contracts it started with in January. That sounds like a small product update. It isn't.

The undercovered story is that Polymarket has now made a very explicit decision about where it wants liquidity to be and how it wants makers to quote risk. If you provide liquidity, trade prediction-market crypto contracts, or study onchain market structure, this matters more than the headline.