Felix Protocol Airdrop airdrop

Felix is a decentralized borrowing protocol on Hyperliquid's HyperEVM, built as an authorized fork of Liquity V2. You deposit collateral into a vault (a Trove) and mint feUSD, its native stablecoin, against it. It has grown to roughly $440M TVL - the second-largest native money market on Hyperliquid - since its April 2025 mainnet, and it is audited by Dedaub and Coinspect with integrations into Morpho and Ethena. No token yet. Start on Felix.

Felix lives on HyperEVM, and any HyperEVM activity also builds your Hyperliquid footprint. Hyperliquid ran one of the most valuable community airdrops in crypto history. So a position on Felix does two jobs from one deposit: it farms Felix points and accrues Hyperliquid ecosystem standing. That means the downside case is unusually soft - even if a Felix token never comes, the activity still positions you on $HYPE. Very few farms can say that.

The capital-efficiency play is to deposit collateral that already earns - a liquid staking token like stETH or rETH keeps its staking yield while it backs your feUSD, so your collateral is productive instead of idle (the principle in one deposit, two ecosystems ). Depositing HYPE also deepens your Hyperliquid alignment.

• Chain: Hyperliquid (HyperEVM)
• Type: CDP borrowing protocol (authorized Liquity V2 fork)
• Status: Live (mainnet Apr 2025), points active, no token yet
• Stablecoin: feUSD, minted against collateral in a Trove
• Collateral: HYPE, WBTC, ETH, stETH, rETH
• TVL: ~$440M (2nd-largest money market on Hyperliquid)
• Audits: Dedaub, Coinspect · Integrations: Morpho, Ethena
• Points: mint feUSD, deposit pools, use vaults - plus nested Hyperliquid footprint
• Related: Hyperliquid, Ethena, Ethereal
• Join: Felix

Open a Trove on Felix with yield-bearing collateral (stETH/rETH keep earning while they back your debt), mint feUSD, and deploy it into Felix pools and vaults - minting and then letting feUSD sit idle is half a position. Keep your loan-to-value conservative, because a CDP carries liquidation risk a pure points farm does not - monitor your health factor around volatile HYPE/BTC moves. And farm the Hyperliquid layer on purpose, since it counts twice.

Full playbook in the Felix airdrop guide . Pair it with Hyperliquid , Ethena and Ethereal .

Liquidation and collateral price are the real risks, not a farming fee. Only borrow what you can afford, use the official domain, and never share a seed phrase.