Key facts
- Hyperliquid launched its manual borrow feature on September 18.
- Users can borrow USDC and USDT by supplying HYPE and Bitcoin as collateral.
- HYPE has a loan-to-value ratio of 65%, and BTC has an LTV of 50%.
- Partial liquidation thresholds are 82.5% for HYPE and 75% for BTC.
- The protocol retains 10% of borrowed interest as a buffer for liquidations.
- Total assets borrowed reached $269 million.
Hyperliquid has launched a manual borrow feature, enabling users to borrow stablecoins USDC and USDT by providing HYPE and Bitcoin as collateral. The feature went live on Friday, September 18, and utilizes the same underlying infrastructure as the platform's portfolio margin system. As of today, the total value of assets borrowed has reached $269 million. Borrowed assets accrue interest, while supplied assets earn interest, with rates determined by utilization. The platform noted that HYPE has a loan-to-value (LTV) ratio of 65%, and Bitcoin has an LTV of 50%. Partial liquidations are set at 82.5% for HYPE and 75% for BTC. Hyperliquid will retain 10% of borrowed interest as a buffer for future liquidations. The HYPE token price surged over 13% in the past 24 hours, trading at $90.45, with trading volume increasing by 75%. Bitcoin's price also rose, reclaiming the $78,000 mark, up more than 2% in the last 24 hours, with increased futures open interest indicating buying pressure from US investors.