Hyperliquid has launched its manual borrowing feature, enabling users to collateralize HYPE and BTC to borrow USDC and USDT. The platform sets loan-to-value ratios at 65% for HYPE and 50% for BTC, with liquidation thresholds at 82.5% and 75%, respectively. Collateral assets do not accrue interest, while deposited stablecoins earn yield but do not count toward borrowing capacity. Interest rates are variable based on utilization and calculated hourly, subject to account and global limits. The feature supports manual and unified accounts, while portfolio margin accounts utilize automatic borrowing. Both systems share the HyperCore infrastructure, with total borrowed assets reaching $269 million on launch day.