Hyperliquid Launches Lending and Borrowing Feature
Hyperliquid has expanded its services to include lending and borrowing features on its platform. The new system allows users to borrow USDC and USDT by providing HYPE and Bitcoin (BTC) as collateral. On the first day of the service, a total value of $269 million in assets was borrowed.
The feature operates through the HyperCore infrastructure, which is used for perpetual futures and spot trading on the platform. The lending and borrowing function has also been integrated with the portfolio margin system, allowing users' collateral to be evaluated alongside various trading products.
According to co-founder Jeff Yan, the modular structure of the platform makes it easier to segregate risks stemming from lending and enables idle stablecoin collateral to earn interest.