felix protocol00
$feusd
MCAP75.03M
-0.32%

what's felix protocol?

Felix Protocol is a decentralized borrowing and lending platform built on Hyperliquid L1, enabling users to mint feUSD, a stablecoin pegged to $1, using crypto assets as collateral. It provides core primitives including collateralized debt positions (CDPs), Vanilla Markets for lending and borrowing stablecoins like USDT0, USDe, and USDH, and Frontier Vaults for optimized yields on assets such as HUSD and hwHLP. The protocol focuses on security with battle-tested codebases, isolated risk, and integrations like Morpho for advanced use cases such as looping and perps trading. It has achieved significant adoption, crossing $550M in deposits and $100M in outstanding loans, while contributing to the Hyperliquid ecosystem's stablecoin infrastructure.

Snapshot

Felix Protocol generated $75k in liquidation savings on Morpho markets post-RedStone Atom launch.

contract

hyperevm

hyperliquid

2W ago
ONCHAIN METRICS

Generated over $75,000 in liquidation savings on Morpho markets within two weeks of RedStone Atom launch.

1M ago

Felix Protocol enters DefiLlama's top-100 revenue dashboard as a new entrant at rank #96, generating $88,292 in 7-day revenue.

Neura Vaults launch as a new product, packaging arbitrage strategies in ERC-7540 vaults to deliver 30-40% yield outperformance across the Felix Protocol ecosystem.

@bizyugo deposits $137.5K USDH into the protocol and $6.6M in HYPE tokens (~221K) into HyperLend.

$COIN stock launches as newest HIP-3 market, powered by RedStone oracle for data feeds.

Felix ecosystem points are now earned through Equilibria deposits when routing LHYPE, stHYPE, kHYPE, or Pendle LP positions with full vePENDLE boost, alongside points from HyperLend, HypurrFi, and Looping Collective.

Lending incentives for the USDH vault are now live, with deposits going into Morpho-powered borrow markets collateralized by HYPE, UBTC, kHYPE, or Pendle kHYPE PT positions.

CB Ventures lists Felix Protocol among key HIP-3 teams building RWA perpetuals heading into 2026, alongside projects like tradexyz, ventuals, and OstiumLabs in their predictions for crypto innovation.

Circle Internet Group ($CRCL) stock is now available to trade with up to 5x leverage on Bullpen platform, powered by Felix Protocol.

Growth mode activated, cutting HIP-3 perpetual trading fees by 90% to a maximum of 0.009% (USDC) or 0.0081% (USDH). New stocks added to HIP3.

The TSLA market on Felix Protocol has an average funding rate of 4.5%, significantly lower than tradexyz's 23.6%.

Hyperion DeFi invested 500k HYPE to Felix's HIP-3 market, and traders can farm USDH points on the TSLA-USDH market with ~20% lower taker fees and ~50% higher rebates than USDC-settled markets.

Felix has $170 million in assets supplied across 7 vaults on Morpho, making it the 5th biggest vault curator on the platform.

Felix announces USDC incentives for borrowing USDC against UBTC, HYPE and KHYPE collateral.

Felix Protocol adds kHYPE PT looping capability through Pendle integration.

An oracle provider announces they power the price feeds for the TSLA-USDH perpetual market, providing high-frequency equity pricing data to Hyperliquid's permissionless markets.

Felix Protocol integrates with TradeXYZ and Ventuals for HIP-3 trading, with more integrations coming soon.

Felix announces Felix Exchange, deploying HIP3 markets denominated in USDH.

2M ago

USDH HIP-3 markets launch as the first real USDH sink, offering 20% lower taker fees, 50% better maker rebates, and 20% more volume contribution toward fee tiers. 50% of treasury yields backing USDH accumulates HYPE, with USDH available through Hypercore spot orderbooks, Native Markets minting, and Felix Vanilla borrow/lend.

Based Terminals integrates Felix Protocol's TSLA HIP-3 market, offering 5x leverage trading with USDH across all Based Terminals. The TSLA-USDH market launches live on Hyperliquid through Insilico platform.

A Token Generation Event (TGE) is planned following HIP-3 implementation.

Felix Protocol launches TSLA as a new HIP-3 market, bringing the total to 12 HIP-3 markets (11 equities-based), and prepares to launch a HIP-3 DEX.

HyperCore tests USDC borrow/lending on testnet, with integration via CoreWriter offering increased usage or independent operation creating competition for existing HyperEVM borrow/lend protocols.

HIP-3 markets secured by RedStone's HyperStone oracle solution are going live very soon, with RedStone already powering Felix Protocol and covering 99.5% of all oracle feeds on HyperEVM.

HyperionDeFi lends HYPE to Felix Protocol for HIP-3.

Felix Protocol enters Epoch 30 of its points program.

Lagoon Finance launches the first Liquity V2 BOLD ecosystem vault including feUSD/BOLD/USDC liquidity across 8+ chains, with 15+ Liquity V2 forks rewarding BOLD LPs with tokens.

YO protocol integrates Felix Protocol's USDT0 and USDC products from Morpho Labs as HyperEVM yield sources.

Felix Protocol will soon conduct its Token Generation Event (TGE) and airdrop 4% of supply to Liquity BOLD users, with current TVL at $300M.

Users earn Felix Protocol points when depositing HYPE as hwHYPE on Hyperwave, part of a three-point system including Hypurrfi and Hyperlend.

3M ago

Morpho launches suite of infrastructure tools including consumer App, curator App, SDKs, rewards, and APIs specifically to support Felix Protocol building on their platform.

During a recent market crash, stability pool depositors earned approximately 10% return overnight, with feUSD holders in the pool generating substantial profits from the liquidation events.

The liquidation mechanism protects user positions even in scenarios where liquidation was expected, indicating robust risk management functionality in practice.

Felix Protocol allocates a percentage of its token supply as rewards for BOLD<>stable liquidity providers as part of a multi-venue fork rewards program across chains.

A $100,000 bug bounty program goes live on Immunefi, focused on securing the protocol's borrowing and lending products.

CEO henri participates in a panel discussion at Stripe Tour alongside Ramp and Modern Treasury, discussing scaling with stablecoins and programmable wallets.

Felix Protocol partners with Brahma to power the Swype Card, enabling real-world crypto spending with zero transaction fees through the end of the year, alongside HypurrFi, HyperLendX, and HyperBeat.

Felix Protocol is now part of a multi-protocol yield farming strategy where users can earn points across 8 different protocols simultaneously by farming APE through HyperEVM using a simple deposit-borrow-stake mechanism.

Felix enables USDC bridging and lending functionality on HyperEVM using CCTP V2 and Across protocols.

4M ago

A new Curve Finance liquidity pool (feUSD/BOLD/USD₮0) goes live, enabling liquidity providers to earn Felix protocol points while gaining exposure to the ~$1B TVL project.

USDhl stablecoin launches as the first Hyperliquid-aligned stablecoin through Felix Protocol collaboration.

Felix TGE is expected towards Q4 as part of multiple upcoming token generation events.

feUSD achieves $63.9M market cap, ranking as the #2 stablecoin on HyperEVM behind USDT0's $210.6M in the competitive Hyperliquid stablecoin landscape.

Felix protocol is mentioned as a potential proposer for Hyperliquid's new USDH stablecoin initiative alongside other native Hyperliquid teams.

Felix protocol joins 15+ projects offering airdrops to Liquity V2 participants, with only 1,000 participants currently eligible compared to much larger pools in other protocols.

Testing of HIP-3 TSLA synthetic assets begins on HIP3 testnet, expanding potential trading offerings beyond existing assets.

hwHYPE vault emerges as highest-earning among all HYPE vaults and derivatives, while hwHLP looping strategy generates additional yield through felix points accumulation.

Weekly YT trading cycle discovered with 20% potential gains between Monday bottoms and Thursday peaks; possible loyalty bonus mechanism may impact swing trading strategies.

5M ago

New hlUSD pool launches on Pendle V2 with October 30 expiry, expanding yield opportunities and cross-protocol integration.

kHYPE emerges as largest collateral asset on Felix while capturing significant protocol share across ecosystem, including 30% of Rysk Finance TVL and leading positions on ValantisLabs, Veda Labs, and multiple DeFi platforms.

New Spend Mode + Hooks feature enables automated onchain actions including DCA and staking with Euler Finance, HypurrFi integrations

New integration with Pendle on HyperEVM contributes to $32M PT TVL within first 5 days of launch.

New yield farming strategy enables 58% APY through PT-kHYPE/HYPE looping with 86% LTV ratio and 2.65% borrow rate.

New farming opportunity provides exposure to potential HIP-3 winner among Felix, Kinetiq, and Hyperbeat protocols.

USDHL implements T-bill backing with daily attestations and proof of reserves, using yield to buy and distribute HYPE.

$60M TVL reached with upcoming Felix token distribution confirmed for kHYPE holders

Mint cap of 10M reached within 7 hours, indicating strong market demand.

New USDHL market making strategy emerges requiring 10 HYPE minimum, offering alternative yield farming opportunity through limit orders below $1.

Market competition intensifies as kHYPE loops offer superior yields compared to traditional strategies.

kHYPE collateral reaches $245M across top 3 money markets with additional $60M pending deployment, demonstrating significant ecosystem-wide adoption beyond single protocol focus.

kHYPE AMM makes first deposit to Vanilla markets, establishing lowest HYPE borrowing rates amid ATH leverage demand and insufficient liquidity.

USDHL borrowing rates spike above 30%, significantly impacting borrowing costs and yield strategies.

CDP launch scheduled for next week with $95.82M kHYPE already deposited pre-launch.

Urgent alert to close CDP loan positions, reversing previous low-rate strategy.

6M ago

CDP borrowing rate reduced to 0.7% from 1.5%; new USDHL Frontier vaults and wsthype/hype loops emerge as top yield strategies.

Protocol reaches $386M TVL with $4.1M daily inflows; Token Generation Event scheduled for mid-December.

Vanilla vaults reach $231M TVL and $95M in borrows, approaching CDP's $235M TVL and exceeding its $75M borrows within 2 months of launch.

Retroactive HypurrFi points from launch to be distributed via Merkl platform.

New points system launches with focus on borrowing activities; optimal CDP settings for HYPE and BTC borrows set at 1.5%

Lending protocol offers competitive rates for smaller deposits compared to Hyperlend, with active HYPE and BTC pairs.

USDHL-denominated perpetual futures contracts launching soon, expanding beyond lending services.

New stablecoin farming strategy offers 55% APR through Curve and Hyperstable integrations, with opportunity to farm three airdrops simultaneously.

Native stablecoin USDhl launches with Hyperlane integration for seamless cross-chain functionality.

New integration with Harmonix's HyperEVM vault enables multi-point farming across 5 protocols.

Lending rates drop to 0.26%, significantly below previous 5-15% APR, positioning as lowest among major competitors.

USD lending yields 5-15% APR with 4% borrowing rate against BTC collateral available.

Achieves 63.6% TVL growth over 30 days, ranking 8th among top Hyperliquid projects

Achieves highest tier (S) classification in HyperEVM ecosystem ranking, leading majority of competing protocols.

7M ago

EulerSwap mainnet launches with BOLD and sBOLD token integration enabled.

HyperSwapX introduces feUSD/USDHL liquidity pool as first dual-stablecoin LP option

New USDhl integration enables lending, trading, and liquidity provision with HYPE rewards.

Protocol leads hEVM in TVL; 3 points ensures top 50% position with additional time-based bonus rewards.

New yield farming opportunities available: 17% APY for USDE supplies and 4% borrowing rate for USDT0 against UBTC collateral.

Plasma Deposits opening with 10% supply at $500M valuation, featuring 2-3 week deposit period, 2-week sale duration, and 40-day USDT lock with immediate token unlock on mainnet.

New perpetuals deployment system (HIP-3) launches with 1M HYPE minimum requirement per deployer, enabling permissionless creation of perpetual markets with customizable collateral and trading pairs.

New fiat-backed stablecoin HUSD launches in partnership with m0foundation, utilizing $107.5M annual USDC interest to purchase HYPE for yield distribution.

Points distribution launches today; 20k weekly activity level guarantees top 20% position.

Third major competitor launches on HyperEVM, causing LP migration and revealing $74.6M in current borrows.

Lending protocol reaches 200m TVL, surpassing MarginFi's 160m by 20%

HyperMorpho emerges as 3rd largest lending protocol on Hyperliquid, powering protocol operations

feUSD borrowing against HYPE collateral now available with vault deposit options

New V2 leaderboard launches with fork token rewards distribution: 75% to SPs and 25% to LPs, including borrowing interest and additional incentives.

USDT0 and USDe liquidity pools show thin depth despite high trading volume from lending market activity, creating significant LP opportunities in hyperEVM ecosystem.

New yield farming pathway enables direct integration with Liminal Money strategies through uBTC-USDT-USDC conversion chain on vanilla markets.

UBTC-USDT borrowing available at 7.15% rate while accumulating points for future airdrop.

Cross-protocol yield farming strategy available through uBTC lending and USDT0 borrowing with HypurrFi integration.

Total Value Locked surges 250% to $1B within 30 days.

Protocol ranks third in TVL among HyperEVM protocols despite only 5K users, indicating potential growth opportunity.

Current market position identified as temporary solution ahead of native USDC deployment, indicating existential risk.

New integration with HUSD announced, with mention of existing partnerships with Liquity and M0 (in addition to the previously mentioned Morpho Labs).