Events Architecture

Hyperliquid Improvement Proposal 4, or HIP-4, adds fully collateralized outcome contracts to HyperCore. Trade[XYZ] deploys Events markets under the name txyz.

Every HIP-4 market is instantiated from a template approved by Hyperliquid validators. A template constrains the market’s display text, side names, typed keywords, and permitted semantics. For each txyz market, the outcome deployer selects an approved template, supplies the values that template permits, sets the applicable deployer fee scale, and publishes the resolution methodology. HyperCore processes orders and maintains the canonical onchain balances and positions.

After the offchain resolution methodology determines a result from the declared source, the outcome deployer or an authorized settlement sub-deployer submits the settlement action. HyperCore validates and applies that action onchain; the authorized onchain action causes the outcome balances to settle.

trade[XYZ] provides a non-custodial interface to these markets. It is not the exclusive means of accessing txyz markets.