Welcome to Felix

Docs are still under construction and being actively worked.

Felix is a synthetic dollar protocol on Hyperliquid L1 that lets users do the following:

Deposit Collateral and Borrow feUSD: Users can deposit HYPE, PURR, and bridged majors (BTC, ETH, SOL) as collateral. They then can mint feUSD, a stablecoin pegged to the USD, against these deposits. feUSD can be used for various purposes like trading, saving, or making payments, removing the need for users to sell their crypto holdings.
Earn Yield with Felix Stability Pools: Users can earn yield on feUSD by depositing into Felix Stability Pools. Each vault corresponds to a specific collateral asset, with deposits receiving 75% of the interest generated by debt backed by it in exchange for participating in automated liquidations. Vault deposits thus receive feUSD yield and collateral-denominated liquidation profits, with further automation of compounding liquidation proceeds possible.
On-Chain Savings: feUSD can be redeemed for $1-worth of protocol collateral and has zero off-chain dependencies. This allows it to serve as a stable store of value for as long as the Hyperliquid network remains operational.

Felix thus offers utility to both Hyperliquid's active trader as well as the network's more passive savers.

Last updated 3 months ago