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. Users of Liquity‘s BOLD stablecoin on mainnet will also be eligible for a separate incentives program according to Felix’s documentation.

    Latest Update: Felix has launched its first round of USDC incentive rewards for Vanilla borrowers. Users who borrow USDC against HYPE, kHYPE, or UBTC collateral are now eligible to earn USDC rewards through this campaign. View detailed campaign metrics through the Merkl platform.

    How to Participate in the Felix Protocol Mainnet

    1. Connect to Felix Protocol
    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. 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.

    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!

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    Estimated Value

    n/a

    Tokens per Claim

    n/a

    Max. Participants

    Unlimited

    Overview