Hyperliquid Brings Manual Borrowing Service Online with HYPE and BTC Collateral

Hyperliquid has launched its manual borrowing service, allowing users to borrow USDC and USDT against HYPE or BTC collateral. This feature uses the same underlying HyperCore infrastructure as portfolio margin, which was also introduced today. According to Hyperliquid's announcement, $269 million in assets were borrowed through this new service on launch day.

Manual borrowing allows users to supply HYPE or BTC as collateral and borrow up to 65% of its value in USDC or USDT. For example, if a user supplies $4,000 worth of HYPE, they can borrow up to $2,600 in USDC or USDT.

Borrowed quote assets will incur interest, while users who supply quote assets as collateral will earn interest. However, HYPE and BTC do not incur interest, and supplying USDC or USDT as collateral is not allowed for manual borrowing.