Hyperliquid launches manual lending: collateralizable HYPE and BTC to borrow USDC and USDT

According to the official announcement from Hyperliquid, the manual lending feature has been launched, allowing users to collateralize HYPE or BTC to borrow USDC and USDT. The loan-to-value ratio for HYPE is 65%, and for BTC, it is 50%, with corresponding liquidation thresholds of 82.5% and 75%.

Collateralized HYPE and BTC do not accrue interest, while deposited USDC and USDT can earn interest but do not count towards the borrowing limit; the interest rate varies with the utilization rate of funds and is calculated hourly, with separate account and global limits. This feature is available for manual and unified accounts, while the combined margin accounts use automatic lending. The official statement mentions that both share the HyperCore underlying infrastructure, with a total of $269 million in borrowed assets on the same day.