FAQ

For any questions, join the Felix Discord, and reach out to contributors.

When can redemptions occur?

A redemption can occur at any time, but will likely only happen when it is profitable to do so. This is usually the case when the price of feUSD is less than $1 (minus the current redemption fee).

Is there a redemption fee?

Yes, there is a redemption fee. The redemption fee percentage is given by min (0.5% + baseRate, 100%).

Redemption fees are based on the baseRate state variable, which is dynamically updated. The baseRate increases with each redemption, and exponentially decays according to time passed since the last redemption (half-life of 6 hours).

Upon each redemption of x feUSD: baseRate is decayed based on time passed since the last fee event and incremented by an amount proportional to the fraction of the total feUSD supply to be redeemed, i.e. x/total_feUSD_supply

The redemption fee (red line) follows this dynamic over time as redemptions occur (blue bars).

How do I transfer feUSD to HyperCore?

Send your feUSD to the following address: 0x20000000000000000000000000000000000000f1.

Please test with a small amount first.