Felix

Felix Protocol Launches USDH and USDC Incentive Campaigns

Felix Protocol has launched multiple incentive campaigns on Felix Vanilla, rewarding both USDH suppliers and USDC participants across different vault strategies.

USDH Incentives: Supply USDH to earn borrower interest plus additional USDH incentives. Unlike the USDC program which targets borrowers, USDH incentives are allocated exclusively to lenders.

USDC Incentives (Second Round): The current campaign rewards USDC lenders in both the Flagship vault and Frontier vault, as well as USDC borrowers against kHYPE and HYPE at 62.5% max LTVs. The Frontier vault offers higher-risk exposure by lending to HYPE, kHYPE, and stHYPE at 77% max LTVs.

Current Supply APYs:

• USDC Flagship: 6.95%
• USDC Frontier: 105.3%

Incentive allocations may shift between borrowers and lenders or be weighted toward specific vaults as the campaign progresses. Monitor the Felix Discord for updates on any allocation changes. View full campaign details on the Merkl page.

How to Participate in the Felix Protocol Mainnet

1. Connect to Felix Protocol
   • Visit the Felix Protocol app
   • Click on “Connect Wallet” in the top right corner
   • Select your preferred Web3 wallet (MetaMask, WalletConnect, etc.)
   • Ensure you’re connected to the Hyperliquid network
   • Confirm the connection in your wallet
2. Deposit Collateral
   • Navigate to the “Borrow” section
   • Get some HYPE from the Hyperliquid spot market and transfer to EVM
   • Deposit HYPE as collateral
3. Borrow feUSD
   • Once your collateral is deposited, determine how much feUSD you want to mint
   • Note that the minimum feUSD borrow amount is 2000 feUSD
   • Be mindful of the collateralization ratio to avoid liquidation risk
   • Enter the desired amount of feUSD to borrow
   • Confirm the transaction in your wallet
   • Your feUSD will appear in your wallet once the transaction is processed
4. Supply feUSD to Vaults
   • Get some feUSD by borrowing against your HYPE with Felix or swap to feUSD using a DEX like HyperSwap or Kittenswap.
   • Navigate to the “Earn” section
   • Review available feUSD vaults and their respective yields
   • Select a vault and enter the amount of feUSD you wish to supply
   • Approve the token spending if prompted
   • Confirm the transaction in your wallet
   • Monitor your yield accumulation in the dashboard
5. Provide liquidity for feUSD pools
   • Add liquidity to feUSD pools on DEXes like HyperSwap and Kittenswap
   • Supply liquidity to the BOLD/feUSD/USDT0 pool on Curve
6. Borrow and/or Lend Using Vanilla Markets
   • Borrow and/or lend USDT0 and USDe on Felix
7. Use Liquity’s BOLD on Mainnet
   • Follow our Liquity step-by-step guide to qualify for Felix’s incentives program
8. USDhl is now live on Hyperliquid
   • HYPE is distributed every two weeks to reward USDhl usage in designated venues.
   • Purchase USDhl on HyperCore
   • Claim rewards every 2 weeks
9. Use the Felix Agent, powered by Brahma
   • Visit the Brahma page
   • Select your existing Felix Trove. Choose at least one curator
   • Sign the delegation. Weekly interest rate updates are executed securely by a Brahma Account, you retain full control.
   • The agent starts auto-adjusting your interest rate weekly.
10. Trade Felix’s HIP-3 Perpetuals
    • Go to Felix and deposit USDC via Arbitrum
      • If you don’t hold any USDC get some from Binance or bridge to Arbitrum using Rhino
    • Click on “Swap for USDH” and confirm the transaction
    • Trade TSLA-USDH (Tesla), CRCL-USDH (Circle), COIN-USDH (Coinbase) and/or GOLD-USDH perpetuals
    • Your trading volume for Felix’s HIP-3 perpetuals may qualify you for airdrops from Felix and Hyperliquid
11. Share your referral link
    • Go to the Points page
    • Click on Join Invite Program
    • Share your referral link
    • Earn points based on your referral’s volume

Latest Update: Felix Introduces Frontier Vaults

Felix has launched Frontier Vaults, a new lending feature that provides access to exotic collateral markets while maintaining risk segmentation for lenders.

What are Frontier Vaults?

Frontier Vaults are specialized Morpho lending pools that allocate funds to more exotic collateral markets including UETH, hwHLP, and WHLP collateral types. This segmentation allows for better risk management while offering lenders additional investment options.

Current Opportunities

• USDT0 (Frontier): Earn 16%+ APY plus Felix points
• USDHL (Frontier): Earn 16%+ APY plus Felix points

How to Participate

1. Navigate to Vanilla section
2. Select “Lend” option
3. Choose either USDT0 (Frontier) or USDHL (Frontier)
4. Complete your deposit to start earning rewards

Asset Acquisition

You can obtain UETH, hwHLP and wHLP tokens from Project X to participate in these Frontier Vaults.

Tips for Maximizing Potential Airdrop Chances

• Maintain consistent activity on the platform rather than just making a single transaction
• Engage meaningfully in the Discord community with valuable feedback and discussions
• Diversify your activities across different protocol features

Frequently Asked Questions

Is the Felix airdrop confirmed?
No, Felix has not officially confirmed any airdrop. Current activities focus on testnet participation and protocol development.

How much collateral should I deposit?
While there’s no specified minimum, meaningful participation with reasonable amounts shows genuine protocol engagement.

Can I participate in the Felix points program if I’m new to the protocol?

Yes, new users can participate in the upcoming points program. Starting to use the protocol before the official launch on April 11 might position you better for potential rewards.

Conclusion

Felix Protocol offers a decentralized solution for stablecoin minting and yield generation through its CDP system and Vaults. With the upcoming points program and potential airdrop opportunity, now is an excellent time to familiarize yourself with the platform and start participating in its ecosystem.