What is Felix?
Felix is an authorized fork of the Liquity protocol, designed specifically for the Hyperliquid Layer-1 ecosystem. This synthetic dollar protocol allows users to engage in collateralized lending while maintaining the stability of its native stablecoin, feUSD, which is pegged to the US Dollar.
By combining the proven mechanics of Liquity with unique Hyperliquid-focused features, Felix enables users to deposit collateral, borrow feUSD, and earn yields through specialized vaults. The protocol prioritizes capital efficiency, risk management, and ecosystem stability.
Felix Airdrop Details
Felix has announced a points program, including a referral system, set to launch on April 11, 2025. This program coincides with an expansion of the feUSD mint cap to 5 million, reflecting a measured approach to scaling stablecoin circulation.
The public mainnet is now live, with users encouraged to engage with core features ahead of the points program. Users of Liquity’s BOLD stablecoin on mainnet are also eligible for a separate incentives program.
Latest Updates
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Felix partnered with RedStone to develop custom price feeds for equity perpetual markets via HIP-3.
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The TSLA-USDH perpetual contract is now live as the first HIP-3 deployment.
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Felix launched Frontier Vaults, specialized lending pools offering access to exotic collateral markets while maintaining risk segmentation.
How to Participate in Felix Protocol Mainnet
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Connect Wallet
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Access the Felix Protocol app
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Connect a Web3 wallet (MetaMask, WalletConnect, etc.)
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Ensure connection to the Hyperliquid network
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Deposit Collateral
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Acquire HYPE tokens from the Hyperliquid spot market
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Transfer HYPE to HyperEVM and deposit as collateral
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Borrow feUSD
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Minimum borrow: 2,000 feUSD
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Ensure sufficient collateralization ratio to avoid liquidation
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Confirm the transaction to receive feUSD
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Supply feUSD to Vaults
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Borrow or swap feUSD
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Navigate to the “Earn” section and choose a vault
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Approve token spending and confirm the transaction
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Monitor yield accumulation
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Provide Liquidity
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Add feUSD liquidity to DEX pools (HyperSwap, Kittenswap, Curve)
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Borrow or Lend via Vanilla Markets
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Participate in USDT0 or USDe markets
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Use USDHL
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Purchase USDHL on HyperCore
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Claim HYPE rewards distributed biweekly
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Felix Agent (Powered by Brahma)
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Delegate your Felix Trove to a curator
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Weekly interest rate adjustments executed automatically
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Referral Program
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Share your referral link to earn points based on referred user activity
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Frontier Vaults
Frontier Vaults provide access to exotic collateral markets while maintaining risk segmentation.
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Collateral Options: UETH, hwHLP, wHLP
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Opportunities:
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USDT0 (Frontier): 16%+ APY + Felix points
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USDHL (Frontier): 16%+ APY + Felix points
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Participation: Deposit assets into the Frontier Vaults via the Vanilla “Lend” section.
Asset Acquisition: UETH, hwHLP, and wHLP tokens can be obtained from Project X.
Tips for Maximizing Potential Airdrop Chances
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Maintain consistent activity on the platform rather than a single transaction.
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Engage with the community and provide valuable feedback.
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Diversify interactions across protocol features to show genuine engagement.
Frequently Asked Questions
Is the Felix airdrop confirmed?
No, Felix has not officially confirmed an airdrop. Current efforts focus on testnet participation and protocol development.
How much collateral should I deposit?
While no minimum is required, meaningful deposits show genuine engagement.
Can new users participate in the points program?
Yes, early engagement before the April 11 points program may improve positioning for potential rewards.
Conclusion
Felix Protocol offers a decentralized solution for stablecoin minting, yield generation, and collateralized lending through its CDP system and vaults. The upcoming points program and potential airdrop make it a good time to familiarize yourself with the platform and start participating in its ecosystem.
