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Felix

What is Felix?

Felix is an authorized fork of the well-established Liquity protocol, specifically designed for the Hyperliquid L1 ecosystem. This synthetic dollar protocol enables users to participate in collateralized lending operations while maintaining the stability of its native stablecoin, feUSD, which is pegged to the US Dollar.

At its core, Felix combines the proven mechanics of Liquity with unique features tailored for the Hyperliquid ecosystem. The protocol allows users to deposit collateral, borrow feUSD, and earn yields through specialized vaults, creating a comprehensive DeFi ecosystem that prioritizes capital efficiency and stability.

Felix Airdrop Details

Felix Protocol has announced an upcoming points program that will include referrals, set to launch on April 11, 2025, at 12:00 PM UTC. This coincides with the protocol’s expansion of the feUSD mint cap to 5 million feUSD. The Felix team has been implementing a measured approach to scaling up feUSD circulation to ensure the stable growth and security of the system.

The public mainnet of Felix is now live after undergoing a staged rollout over the past weeks. While specific details about the points distribution and potential token rewards have not been fully disclosed, users can start positioning themselves by engaging with the protocol’s core features ahead of the points program launch.

Step-by-Step Guide:

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 (optional)
  6. Vanilla Markets are live on Felix
    • Borrow and lend USDT0 and USDe on Felix
  7. 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

How to Participate in the Felix Testnet

  1. Obtain Testnet Tokens
  2. Connect to Felix Platform
    • Navigate to Felix’s application
    • Connect your Web3 wallet
    • Ensure you’re connected to the Hyperliquid testnet
  3. Interact with Borrowing Features
    • Go to the “Borrow” page
    • Deposit your collateral
    • Borrow feUSD against your deposited assets
  4. Explore Yield Opportunities
    • Navigate to the “Supply” page
    • Deposit your feUSD into available vaults
    • Monitor your yield accumulation
  5. Maintain Active Participation
    • Conduct regular transactions on the testnet
    • Provide constructive feedback in Discord
    • Follow project updates on X (formerly Twitter)

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.

You're interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!

Don't forget to follow us on Twitter, Telegram, & Facebook and subscribe our newsletter to receive new airdrops!

BORROW AND/OR SUPPLY FEUSD

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Max. Participants

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Overview