According to CoinMeta, Hyperliquid announced the successful deployment of its first decentralized exchange (DEX) based on HIP-4. This exchange was deployed through the network's permissionless market framework. The blockchain browser of Hyperliquid shows that a successful on-chain transaction has registered this result, named OUT. This transaction confirmed the deployment of OUT, but it is not yet clear whether its market has been opened for real-time trading. According to the developer documentation of Hyperliquid, HIP-4 allows approved deployers to create result markets without needing to seek verification from individual validators for each contract. Each market still needs to follow the template previously approved by the set of validators. This template defines the basic format of the contract, the available results, and their settlement methods. Hyperliquid launched HIP-4 on the testnet in February and activated the first result contract on the mainnet on May 2nd.