Docs

Overview

A prediction market on Hyperliquid (HIP-4) pays 1 USDC per share of the winning side and 0 for the losing side. Its price, between 0 and 1, is the market’s probability of that outcome. Outmark lets anyone wrap one or several of these positions into a coin with a bonding curve, so the coin’s price tracks the odds and stays liquid before the market resolves.

Three pieces make a coin: a reserve vault that holds the positions, a bonding curve that prices the coin against the reserve, and a keeper that keeps the reserve’s accounting honest on-chain. Everything is deployed by a permissionless factory, in one transaction, from the Create page.

Anatomy of a coin

• ReserveVault: holds USDC and the HIP-4 positions of the basket (up to 5 legs). It issues a part whose value is the NAV of the basket, marked to market on every post.
• BondingCurve: a constant-product curve between the coin and the vault’s part. Buying pushes USDC into the vault and mints coins; selling burns coins and redeems from the vault.
• Zap: the single entry point you interact with. It routes USDC in and out, takes the trade fee, and pays the creator’s share.
• FeeVault: accumulates protocol and creator fees.
• Coin: a plain ERC-20 on HyperEVM, mint and burn reserved to the curve.

The reserve

USDC that enters a coin goes to its ReserveVault. The keeper bridges it to HyperCore and buys the basket’s outcome positions, keeping about 20% as a USDC buffer so redemptions settle without waiting for a fill. Positions are valued at the live mid price of the side the reserve holds, so the NAV per part moves with the odds, block by block.

What you own

A coin is a claim on a share of the reserve. When the odds go up, the reserve is worth more, and the curve prices the coin higher. When a market resolves, the winning positions pay out 1 USDC each and the proceeds stay in the vault in USDC; losing positions go to zero. The team can then rotate the basket to a new market (composition rights stay with the team; they cannot withdraw funds).

Bonding curve & graduation

• Virtual supply of 1,000,000,000 coins per launch, of which 750,000,000 are sold on the curve. The remaining 250,000,000 are reserved to seed the pool at graduation.
• The curve graduates when it is emptied, or when its reserve reaches $9,000, whichever comes first.
• Graduation is permissionless: the remaining coins are minted and paired with the vault’s parts in a HyperSwap V2 pool, and the liquidity is locked permanently. The coin keeps tracking the basket: the pool trades coin against part, and the part is still the reserve.

The Bonding bar on each card is the share of the 750M already sold. “Pool” means the coin has graduated.

Fees

• 0.75% on every buy and 0.75% on every sell through the curve.
• 33.33% of those trade fees go to the coin’s creator, the rest to the protocol.
• After graduation, the pool charges the standard 0.30% swap fee.

Launching a coin

From Create: pick up to five HIP-4 markets, choose the side the reserve should hold on each (YES or NO), set the weights, add a name, a ticker and an image. One transaction deploys the whole stack through the CoinFactory. You become the coin’s creator and earn the creator share of the fees.

Big blocks

Creating a coin costs about 9M gas, more than a standard HyperEVM block allows. Your wallet must be switched to big blocks first (a one-time, per-account toggle). The Create page detects the failure and points you to the toggle.

Safety model

The keeper posts valuations, it never holds the funds. What limits a compromised or buggy keeper is enforced by the contracts:

• A posted valuation may not move the NAV per part by more than 5% in one post, nor by more than 20% cumulatively over any one-hour window.
• Valuations must stay within a ±20% band of the on-chain reference price of each outcome.
• A cold guardian can freeze a vault at any time (minting and redeeming stop) and replace the keeper. Freezes by the keeper itself expire automatically after one hour.
• On HyperCore the keeper is an agent of the guardian’s account: it can trade, it cannot transfer or withdraw.

None of this removes market risk: if the outcome your coin holds resolves NO, the reserve behind it goes to its USDC buffer only. Read the market before you buy the coin.

OUTMARK token

Outmark.fun (OUTMARK) is the house token, created by the TokenFactory: fixed supply, no owner, no mint, no blacklist, no transfer fee. Its liquidity lives in a HyperSwap V3 pool against WHYPE and the LP position is burned. It is not backed by a reserve; it is a plain token.

• Contract: not deployed yet, the address will be listed here.
• Website: https://outmark.fun · X: x.com/outmarkdotfun

Contracts

HyperEVM chain id 999. Only trust addresses listed here or read from the factories on-chain.

FAQ

Why does the coin price differ from the odds?

The coin tracks the NAV of its reserve through a bonding curve, so its price is the odds times the reserve’s exposure, moved by supply on the curve. It follows the direction of the odds, not their exact level.

Can I sell before the market resolves?

Yes. Selling burns your coins and redeems USDC from the reserve at the current NAV, minus the 0.75% fee. If the vault is frozen (guardian action or settlement in progress), selling waits until it thaws.

What does “Bonding” mean on a card?

The share of the curve already sold. At 100% the coin has graduated and trades in an open pool.

Who can freeze a coin?

The guardian, a cold wallet held by the team, and the keeper for at most one hour. Freezing stops mints and redeems; it never moves funds.