Hyperliquid launched native borrowing and lending, with $𝟮𝟲𝟵𝗠 borrowed on day one. Users can collateralize HYPE and BTC to borrow USDC and USDT, with idle stablecoin collateral now earning yield via utilization-based rates. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: This deepens the capital efficiency flywheel on Hyperliquid. Idle collateral earning yield instead of sitting dead should attract more TVL and tighten the link between HYPE utility and platform usage. The key risk: lending utilization could pull stablecoin supply away from perp collateral, tightening perp-side liquidity if adoption keeps scaling. For HYPE, this adds a new utility vector — the token is now borrowable collateral alongside BTC. Day-one borrowing of $269M signals strong demand for leverage on the platform. Watch whether lending TVL cannibalizes perp depth or compounds it. Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=2606