Hyperliquidgm team. Setting up a BTC-collateralized quant trading for SME treasury companies. Native multisig master for withdrawals, agent wallet for trading. A couple things the docs don't cover, or that we'd like to double-check: Portfolio Margin 1. What does "alpha" mean in practice, and what gates institutional use? (a) is it collateral caps / size limits, (b) technical stability, and (c) how does an account actually get enabled, automatically at the $5M volume threshold or via a separate whitelist/approval? 2. The ~$5M volume prerequisite: if the master account hits it, are its sub-accounts eligible too, or does each sub-account need its own $5M? BTC collateral 3. What's the BTC collateral weight / LTV under Portfolio Margin? 4. Liquidation is account-level on portfolio_margin_ratio > 0.95, not a per-position threshold. Can you confirm the BTC liquidation point and how the ratio is computed for a BTC-collateral / USD-margin book? Sub-accounts 5. The ~$5M PM volume prerequisite: if the master hits it, are sub-accounts eligible too, or does each need its own $5M? 6. The 200 BTC per-user collateral cap (global 4,000): applied per master, or per sub-account? Multisig master + agent 7. Does a native multisig master fully support Portfolio Margin (same margin behavior as a single-key account)? 8. Can margin / LTV adjustments be delegated to the agent wallet, or do those need the master multisig signature?
gm team. Setting up a BTC-collateralized quant trading for SME treasury companies. Native multisig master for withdrawals, agent wallet for trading. A couple things the docs don't cover, or that we'd like to double-check: Portfolio Margin 1. What does "alpha" mean in practice, and what gates institutional use? (a) is it collateral caps / size limits, (b) technical stability, and (c) how does an account actually get enabled, automatically at the $5M volume threshold or via a separate whitelist/approval? 2. The ~$5M volume prerequisite: if the master account hits it, are its sub-accounts eligible too, or does each sub-account need its own $5M? BTC collateral 3. What's the BTC collateral weight / LTV under Portfolio Margin? 4. Liquidation is account-level on portfolio_margin_ratio > 0.95, not a per-position threshold. Can you confirm the BTC liquidation point and how the ratio is computed for a BTC-collateral / USD-margin book? Sub-accounts 5. The ~$5M PM volume prerequisite: if the master hits it, are sub-accounts eligible too, or does each need its own $5M? 6. The 200 BTC per-user collateral cap (global 4,000): applied per master, or per sub-account? Multisig master + agent 7. Does a native multisig master fully support Portfolio Margin (same margin behavior as a single-key account)? 8. Can margin / LTV adjustments be delegated to the agent wallet, or do those need the master multisig signature?