Hyperliquid, a decentralized exchange, launched a manual borrowing feature on its HyperCore platform on September 18. This new functionality enables users to lend their assets for interest or use HYPE and Bitcoin as collateral to borrow tokens such as USDC and USDT.
In just the first day of operation, the platform reported an impressive total of $269 million in borrowed funds. Jeff Yan, co-founder of Hyperliquid, noted that this feature is seamlessly integrated with both perpetual futures and spot trading, utilizing portfolio margin for enhanced trading strategies. The interest rates associated with borrowing are determined by the level of liquidity utilization on the platform.
