{"id":37291,"date":"2026-05-08T04:58:05","date_gmt":"2026-05-08T04:58:05","guid":{"rendered":"https:\/\/buvei.com\/blog\/?p=37291"},"modified":"2026-05-08T04:58:05","modified_gmt":"2026-05-08T04:58:05","slug":"hyperliquid-hip-4-challenging-kalshi-and-polymarket-in-prediction-markets-2","status":"publish","type":"post","link":"https:\/\/buvei.com\/blog\/pt\/hyperliquid-hip-4-challenging-kalshi-and-polymarket-in-prediction-markets-2\/","title":{"rendered":"Hyperliquid HIP-4: Converg\u00eancia de Mercados de Previs\u00e3o e Derivativos 2026"},"content":{"rendered":"<h2>Resumo Executivo: HIP-4 da Hyperliquid e a Converg\u00eancia de Mercados de Previs\u00e3o e Derivativos<\/h2>\n<div><\/div>\n<div>A proposta da <strong>Hyperliquid<\/strong> de adicionar contratos baseados em resultados (HIP-4) representa uma mudan\u00e7a estrutural no setor. Diferente de plataformas de previs\u00e3o isoladas, a Hyperliquid conta com um motor unificado, onde traders podem usar <strong>margem cruzada<\/strong> para apostas de eventos combinadas com futuros perp\u00e9tuos alavancados. Essa movimenta\u00e7\u00e3o deflagra uma <strong>guerra pelo capital dos traders<\/strong>, enquanto Kalshi e Polymarket tentam simultaneamente expandir sua presen\u00e7a no segmento de perp\u00e9tuos.<\/div>\n<div>\n<h2 data-path-to-node=\"5\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-37008\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1.webp\" alt=\"\" width=\"1600\" height=\"896\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1.webp 1600w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-300x168.webp 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-1024x573.webp 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-768x430.webp 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-1536x860.webp 1536w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-400x224.webp 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-800x448.webp 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-832x466.webp 832w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-91-1-1248x699.webp 1248w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/h2>\n<\/div>\n<h2>A<a href=\"https:\/\/buvei.com\/blog\/best-u-s-virtual-cards-may-2026-top-providers-guide\/\"> Vantagem Arquitetural:<\/a> Liquidez Unificada<\/h2>\n<div><\/div>\n<div>O diferencial da Hyperliquid \u00e9 seu motor <strong>HyperCore<\/strong> e blockchain L1 nativa. Em estruturas tradicionais, o trader precisaria transferir fundos entre uma exchange de cripto (para futuros de BTC) e um mercado de previs\u00e3o (para apostas eleitorais).<\/div>\n<div><\/div>\n<div>Com o HIP-4, a Hyperliquid viabiliza:<\/div>\n<div><\/div>\n<ul>\n<li><strong>Margem de portf\u00f3lio<\/strong>: Um \u00fanico pool de garantia (USDC) suporta posi\u00e7\u00e3o comprada em Bitcoin, posi\u00e7\u00e3o vendida em Nvidia e aposta \u201cSim\u201d em resultados pol\u00edticos.<\/li>\n<li><strong>Efici\u00eancia de capital<\/strong>: Lucros de opera\u00e7\u00f5es perp\u00e9tuas podem ser usados instantaneamente para hedge em contratos de eventos, sem atrasos de saque ou taxas de ponte.<\/li>\n<li><strong>Gera\u00e7\u00e3o de alpha<\/strong>: Traders experientes executam estrat\u00e9gias de arbitragem complexas entre ativos correlacionados \u2014 por exemplo, apostar em candidato pr\u00f3-cripto enquanto mant\u00e9m posi\u00e7\u00e3o comprada em perp\u00e9tuos de BTC.<\/li>\n<\/ul>\n<div>\n<h2 data-start=\"1124\" data-end=\"1167\"><a href=\"https:\/\/buvei.com\/?s=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-28870 aligncenter\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-300x90.png 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-768x230.png 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-400x120.png 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-800x240.png 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-832x249.png 832w\" alt=\"\" width=\"1024\" height=\"307\" \/><\/a><\/h2>\n<\/div>\n<h2>Converg\u00eancia Bidirecional<\/h2>\n<div><\/div>\n<div>O setor j\u00e1 n\u00e3o se divide mais entre \u201cmercados de previs\u00e3o\u201d e \u201cexchanges de derivativos\u201d. Ao inv\u00e9s disso, todos os grandes players correm para adotar o <strong>Modelo de Negocia\u00e7\u00e3o Full-Stack<\/strong>.<\/div>\n<div><\/div>\n<div>\n<div>\n<div>\u8868\u683c<\/div>\n<div>\n<div tabindex=\"0\" aria-describedby=\"uboehwr\"><\/div>\n<div tabindex=\"0\" aria-describedby=\"1ut8o49\"><\/div>\n<div tabindex=\"0\" aria-describedby=\"anwre61\"><\/div>\n<\/div>\n<\/div>\n<div>\n<div>\n<div>\n<table>\n<thead>\n<tr>\n<th>Plataforma<\/th>\n<th>Ponto Forte Atual<\/th>\n<th>Nova Dire\u00e7\u00e3o<\/th>\n<th>Estrat\u00e9gia<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Hyperliquid<\/td>\n<td>Perp\u00e9tuos Descentralizados<\/td>\n<td>Mercados de Previs\u00e3o<\/td>\n<td>Tratar contratos de eventos como nova classe de ativos na engine L1.<\/td>\n<\/tr>\n<tr>\n<td>Polymarket<\/td>\n<td>Previs\u00e3o de Cripto<\/td>\n<td>Perp\u00e9tuos com Alavancagem 10x<\/td>\n<td>Adicionar perp\u00e9tuos de BTC, Nvidia e Ouro para reter usu\u00e1rios de previs\u00e3o.<\/td>\n<\/tr>\n<tr>\n<td>Kalshi<\/td>\n<td>Previs\u00e3o Regulamentada nos EUA<\/td>\n<td>Perp\u00e9tuos \u201cAtemporais\u201d<\/td>\n<td>Usar status CFTC para oferecer futuros perp\u00e9tuos regulamentados.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<h2>Distribui\u00e7\u00e3o vs. Regula\u00e7\u00e3o<\/h2>\n<div><\/div>\n<div>A disputa por domin\u00e2ncia acontece em duas frentes:<\/div>\n<div><\/div>\n<ul>\n<li><strong>Hyperliquid e Polymarket<\/strong>: Aproveitam a distribui\u00e7\u00e3o nativa de cripto. J\u00e1 contam com traders de alta frequ\u00eancia e liquidez on-chain. Seu desafio \u00e9 o cen\u00e1rio regulat\u00f3rio global fragmentado \u2014 como observado em processos judiciais recentes em Nova York contra Gemini e Coinbase.<\/li>\n<li><strong>Kalshi<\/strong>: Aproveita a legitimidade regulat\u00f3ria. Como exchange regulamentada pela CFTC, mira capital institucional que n\u00e3o pode operar legalmente em plataformas offshore ou descentralizadas. Por\u00e9m, seu modelo com permiss\u00f5es limita a velocidade de lan\u00e7amento de novos produtos.<\/li>\n<\/ul>\n<h2 data-path-to-node=\"18\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36396\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48.webp\" alt=\"\" width=\"1600\" height=\"896\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48.webp 1600w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-300x168.webp 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-1024x573.webp 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-768x430.webp 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-1536x860.webp 1536w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-400x224.webp 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-800x448.webp 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-832x466.webp 832w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/04\/\u672a\u547d\u540d\u7684\u8bbe\u8ba1-48-1248x699.webp 1248w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/h2>\n<h2>Impacto para os Traders<\/h2>\n<div><\/div>\n<div>A entrada da Hyperliquid no segmento de previs\u00e3o significa que a volatilidade est\u00e1 se tornando <strong>interoper\u00e1vel<\/strong>.<\/div>\n<div><\/div>\n<div>Para usu\u00e1rios retail, oferece uma experi\u00eancia mais din\u00e2mica, onde qualquer evento pode ser negociado com alavancagem. Para firmas profissionais, cria um ambiente de alta taxa de processamento para market makers automatizados (AMMs) fornecerem liquidez profunda entre tipos de eventos distintos.<\/div>\n<div><\/div>\n<div>Como destacou Sunny Shi da Syncracy Capital, a possibilidade de usar margem de portf\u00f3lio \u00e9 o verdadeiro <strong>r<a href=\"https:\/\/buvei.com\/blog\/best-practices-for-implementing-credit-card-surcharges\/\">ecurso revolucion\u00e1rio<\/a><\/strong><a href=\"https:\/\/buvei.com\/blog\/best-practices-for-implementing-credit-card-surcharges\/\"> c<\/a>apaz de atrair traders de alto volume das aplica\u00e7\u00f5es de previs\u00e3o isoladas.<\/div>\n<h2 data-start=\"1124\" data-end=\"1167\"><a href=\"https:\/\/buvei.com\/?s=blog\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-28870 aligncenter\" src=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" srcset=\"https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4.png 1024w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-300x90.png 300w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-768x230.png 768w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-400x120.png 400w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-800x240.png 800w, https:\/\/wordpress.buvei.com\/wp-content\/uploads\/2026\/01\/buvei-4-832x249.png 832w\" alt=\"\" width=\"1024\" height=\"307\" \/><\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"Resumo Executivo: HIP-4 da Hyperliquid e a Converg\u00eancia de Mercados de Previs\u00e3o e Derivativos A proposta da Hyperliquid&hellip;","protected":false},"author":6,"featured_media":37008,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":""},"categories":[27],"tags":[1761,5401,4095,5943,625],"class_list":{"0":"post-37291","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payment-basics-pt","8":"tag-cross-border-payments-pt","9":"tag-instant-virtual-card-pt","10":"tag-secure-payments-pt","11":"tag-secure-transactions-pt","12":"tag-virtual-cards-pt","13":"cs-entry"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts\/37291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/comments?post=37291"}],"version-history":[{"count":0,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/posts\/37291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/media\/37008"}],"wp:attachment":[{"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/media?parent=37291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/categories?post=37291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buvei.com\/blog\/wp-json\/wp\/v2\/tags?post=37291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}