Hyperliquid Tests New BLP Lending Protocol on Testnet

So, the wizards over at Hyperliquid are at it again, this time tinkering with something called BLP. No, it’s not some new protein shake or energy drink, but rather, it stands for BorrowLendingProtocol-try saying that three times fast. This brilliant new feature is currently undergoing trials on their trusty Hypercore testnet, which sounds like something you’d use to power your next spaceship, but is actually just a fancy playground for crypto experiments.

For the time being, this BLP marvel only supports USDC (that’s USD Coin for the uninitiated) and PURR tokens-because who doesn’t want to lend and borrow digital cash in the form of a cute cat-related coin? You can now borrow and supply assets like you’re some kind of DeFi lending mogul, though if you’ve never heard of this before, don’t worry, you’re not alone.

The rumors are swirling, of course. Some say this BLP could eventually fuel Hyperliquid’s Multi-Margin system-whatever that is. The details are still under the microscope, probably under a very high-tech magnifying glass, so no promises yet. But what’s clear is that the Hyperliquid team is on a mission to make DeFi even more seamless and, well, confusing. I mean, lending within the community? In the world of digital assets? Who would’ve thought? 🙄

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2025-11-08 15:32