trade.xyz has launched Events, a market that brings trading on sports, political, economic and financial outcomes into the same account used for other platform activity. Users can deposit spot BTC, borrow USDC through portfolio margin, trade perpetual contracts tied to pre-IPO assets such as SpaceX and use event contracts to hedge risks including earnings announcements or take positions on sports results. The initial Up/Down contracts cover equities, commodities and pre-IPO assets. Trade.xyz said their liquidity and continuous price discovery are supported by perpetual markets it deployed through Hyperliquid Improvement Proposal 3, or HIP-3. Those contracts use the XYZ market price to determine outcomes, avoiding dependence on an external oracle. This differs from the earlier Events description, which characterized the product as fixed-expiry, fully collateralized outcome contracts under HIP-4.