Hyperliquid announced that HIP-4 will initially be tested on the testnet before moving to the mainnet, supporting permissionless deployment in future network upgrades. The deployment requires a staking of 500,000 HYPE, with penalties for unclear market definitions or unresolved settlements exceeding one week. Staked HYPE will be locked for six months, and deployers must settle all markets to unstake. Deployers can set up to a 50% fee share in deployed markets, with fee configuration as a future feature. Only AQAv2 quote tokens are eligible for HIP-4. Specifications are preliminary and subject to change based on feedback, with a formal announcement to follow after testnet deployment and documentation updates.