Hyperliquid will introduce portfolio margining

On December 12th, Hyperliquid announced that it will introduce the Portfolio Margin feature in the upcoming network upgrade. This feature has already been launched in pre-alpha mode on the testnet. Under the Portfolio Margin mode, the margin for spot and perpetual contract trading will be fully unified, significantly improving capital efficiency. Additionally, the Portfolio Margin account will automatically generate yields on all lendable assets that are not actively used for trading. All HIP-3 DEXes are included in the Portfolio Margin calculation, but not all collateral assets on HIP-3 DEXes are lendable. In the future, new asset classes and derivative primitives on HyperCore will also support Portfolio Margin. Users can provide liquidity with eligible quote assets to earn yields. Official reminder: Portfolio Margin will initially be launched in pre-alpha mode, during which the total lendable asset limit is very low. It is recommended that users test with new accounts or sub-accounts, and account assets below $1,000. When the limit is reached, the Portfolio Margin account will automatically revert to the traditional non-portfolio margin mode. During the pre-alpha phase, only USDC is lendable, and HYPE is the only collateral asset. Before entering the alpha phase, USDH will be added as a lendable asset, and BTC as a collateral asset. More details will be updated in the official documentation later.