Authors submitted HIP-4 proposing “Event Perpetuals” on Sept. 16 to enable prediction markets on Hyperliquid. Event Perpetuals aim to eliminate continuous oracle feeds and allow prices to be determined by trading activity, settling with binary payoffs reflecting market probabilities. The proposal addresses limitations in current infrastructure and introduces an auction mechanism for fair price discovery. Trading occurs within price bands of 0.001 to 0.999, with resolution oracles posting final values during specified challenge windows for dispute resolution.

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