Hyperliquid Unveils Manual Borrowing Feature on HyperCore

Hyperliquid has rolled out manual borrowing on its HyperCore platform, allowing users to borrow USDC and USDT against HYPE and Bitcoin. This feature brings lending, collateral management, and trading onto the same underlying infrastructure.

The launch saw $269 million in assets borrowed on September 18, according to Hyperliquid. The borrowing mechanism allows users to supply HYPE or BTC as collateral and borrow quote assets with interest accruing on the borrowed balances.

Hyperliquid's official documentation states that the system separates collateral from yield-generating supply, meaning that HYPE and BTC deposited as collateral do not earn interest. In contrast, supplying USDC or USDT can generate interest but does not increase a user's manual borrowing capacity.