Hyperliquid is experimenting with a borrowing and lending module on its Hypercore testnet, signaling a possible enlargement of the platform’s core providing.
The event surfaced after on-chain researcher MLM famous that the crew has begun working checks for a characteristic labeled BLP, which he believes stands for BorrowLendingProtocol.
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Is Hyperliquid Exploring a Native Lending Market?
His discovering means that Hyperliquid could also be getting ready to introduce a local money-market layer on Hypercore. This layer would assist borrowing, supplying, and withdrawing belongings.
MLM stated the testnet model of BLP at the moment lists solely USDC and PURR, however he famous that even restricted asset assist creates a basis for one thing bigger.
The Hyperliquid crew is at the moment testing one thing known as BLP on the Hypercore testnet – which I assume stands for BorrowLendingProtocol. It seems to be a local borrowing and lending market on Hypercore, with features like borrowing, supplying, and withdrawing.
At the moment,… https://t.co/4SR0DRTCFJ pic.twitter.com/2SzWWTIxZl
— MLM (@mlmabc) November 8, 2025
He argued that integrating a lending layer might assist Hyperliquid introduce multi-margin buying and selling extra safely. In his view, margin positions would sit on prime of verifiable lending swimming pools fairly than remoted stability sheets.
That structure would mirror techniques already used throughout established DeFi cash markets and will make leverage extra clear for merchants.
If rolled out, this characteristic would broaden Hyperliquid’s footprint past perpetuals and supply customers with entry to DeFi features at the moment lacking from the ecosystem.
The transfer might additionally consolidate exercise on a single platform, making a extra built-in buying and selling surroundings for customers who now depend on exterior lending markets.
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Faux Hyperliquid App Sparks Safety Issues
Whereas the crew experiments with new performance, Hyperliquid customers are battling a separate menace: a fraudulent cellular software that has appeared on the Google Play Retailer.
The app mimics Hyperliquid’s branding regardless of the alternate not providing an official Android or iOS product. Its presence has raised questions on app-store screening requirements, particularly as customers more and more depend on cellular platforms for monetary exercise.
Crypto investigator ZachXBT warned that the faux app is designed to steal funds by phishing pockets credentials and personal keys.
He recognized an Ethereum handle linked to the operation that has already collected greater than $281,000 in stolen belongings. His alert prompted customers to verify current downloads and revoke permissions to keep away from additional losses.
Faux Hyperliquid App On Google Play Retailer
The faux itemizing suits right into a broader sample. A number of malicious builders have created look-alike purposes for tasks equivalent to SushiSwap and PancakeSwap, exploiting the comfort of cellular entry to mislead customers.
Scammers typically mix these apps with sponsored advertisements on Google, guaranteeing that fraudulent hyperlinks seem above reliable search outcomes. This will increase the probability that unsuspecting customers click on by.
As Hyperliquid experiments with new infrastructure and customers seek for simpler entry factors, the coordinated wave of impersonation makes an attempt highlights a persistent threat.
Attackers proceed to focus on platforms as they develop, and customers stay susceptible when official cellular apps don’t exist.
