Bitcoin
Hyperliquid Introduces Manual Stablecoin Borrowing Against Bitcoin and HYPE
Hyperliquid has launched a manual borrowing feature that allows users to access stablecoins using Bitcoin or HYPE as collateral.
Hyperliquid announced on September 18 that it has launched manual borrowing on its platform, enabling users to secure USDC or USDT loans by depositing HYPE or Bitcoin as collateral. Operating on the protocol's HyperCore infrastructure, the service provides direct collateralised loans alongside its existing portfolio-margin system. The platform reported $269 million in borrowed assets on its first day of operation.
Borrowing parameters vary depending on the collateral asset. According to protocol documentation reported by CoinDesk, the maximum loan-to-value ratio is set at 65% for HYPE and 50% for Bitcoin. Borrowing rates are variable, fluctuating with liquidity utilisation, with interest accruing continuously and adjusting on an hourly basis.
The launch coincided with the HYPE token reaching a reported record high of $90.92 on September 18, according to Cointelegraph. While the $269 million borrowed reflects initial activity, it represents a single-day snapshot rather than a sustained measure of outstanding debt or repayments.
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