Hyperliquid announced that it officially launched HIP-4 on the testnet last March. The first new feature is the binary options market, which is a periodic prediction market based on the HyperCore mark price. It can be seen in the prediction section of the testnet interface.

What's interesting is that this binary market is settled with full collateral, with no leverage or liquidation mechanisms. It features nonlinear payouts and expiration times. They also plan to add a 1-day expiration binary market targeting BTC and HYPE in the future.

In the next upgrade, they will transition the portfolio margin feature from pre-alpha to alpha stage, expanding its scope to include portfolios under $500k. The USDH supply cap is set at $500 million, and the lending limit at $100 million. Seeing how they continue to add features like this, it seems Hyperliquid is moving quite proactively.