What Is Hyperliquid? The L1 Behind HIP-4 Prediction Markets

Definition

Hyperliquid is a Layer 1 network built around trading. Its two main execution environments are HyperCore, which runs native order books for perpetuals, spot assets, and outcome contracts, and HyperEVM, an EVM-compatible smart-contract environment.

Purrdict uses HyperCore’s HIP-4 outcome markets for prediction trading. The separate Purrdict parlay escrow and liquidity-vault experiments use HyperEVM Testnet; they are not native HIP-4 order books.

Why Hyperliquid for Prediction Markets

Prediction markets need more than a token contract. Traders need bids, asks, cancellations, fills, account positions, and a settlement path. HyperCore supplies that market infrastructure directly:

• Central limit order books let makers choose prices and sizes instead of trading only against an automated pool.
• Public APIs and WebSocket feeds expose market metadata, order books, trades, positions, and settlement results.
• Outcome contracts can represent binary sides, multi-outcome questions, recurring price binaries, and price buckets.
• Automatic settlement fills record winners at 1 and losers at 0; no separate claim transaction is required in the normal flow.

An executable price is still an order-book quote, not a guaranteed probability. Spread and depth determine what a trader can actually buy or sell at a given size.

Hyperliquid Ecosystem

Hyperliquid supports perpetual futures, spot markets, HIP-4 outcome trading, and HyperEVM applications. Curated HIP-4 outcome markets are live on mainnet. A separate template-based permissionless deployment path is currently available on testnet, where test funds have no monetary value.

Current mainnet outcome metadata labels active HIP-4 books with quoteToken: USDC, and settlement fills credit USDC. Legacy testnet records may expose USDH, so builders should read the active network’s metadata and fill records rather than hard-code one asset across every environment.

Purrdict on Hyperliquid

Purrdict is an independent interface and developer stack for Hyperliquid outcome markets. It discovers HIP-4 markets, maps outcome identifiers to tradeable side coins, streams order books, prepares signed orders, and shows settlement-aware positions.

For the full protocol and product distinction, read the complete guide to prediction markets on Hyperliquid and the canonical HIP-4 technical guide. To inspect live markets, open Purrdict.