Felix Protocol Airdrop Guide 2026: Points and feUSD

Felix Protocol Airdrop Guide 2026: Points and feUSD

Most farms make you choose between two airdrops. Felix gives you both from one deposit.

Short answer: as of October 2026, Felix Protocol has not announced a token or airdrop. It runs a weekly points program for protocol use and referrals that sets your tier and rank, and because it lives on Hyperliquid's HyperEVM , the same activity builds your Hyperliquid footprint. Start on Felix.

What is Felix Protocol?

Felix Protocol is a decentralized borrowing protocol on Hyperliquid's HyperEVM, built as an authorized fork of Liquity V2. You deposit approved collateral into a vault called a Trove and mint feUSD, Felix's stablecoin, against it. Approved collateral includes HYPE, Wrapped Bitcoin, ETH, and liquid staking tokens like stETH and rETH. Because it is a Liquity-style CDP rather than a pooled lender, borrowers get a predictable, rate-driven cost of debt instead of a floating utilization rate.

The traction is real. Felix grew to about $440 million TVL when I first covered it, second only to Hyperlend among native Hyperliquid money markets, after its public mainnet on 8-9 April 2025. Its contracts were audited by Dedaub and Coinspect, and it integrates with Morpho and Ethena. The roadmap points toward a yield-bearing evolution (feUSD toward a HUSD model). Borrow or provide on Felix.

The part most guides underplay: activity on HyperEVM also builds your Hyperliquid footprint. Hyperliquid paid one of the largest airdrops in crypto history in November 2024 and keeps a large share of HYPE reserved for future community rewards. It has not announced a second airdrop, but a Felix position keeps you active on the chain either way.

Is the Felix airdrop confirmed?

No, the Felix airdrop is not confirmed: as of October 2026 Felix has announced no token, only a live points program. Points are earned every week for using the protocol (minting feUSD, depositing into pools, using vaults) and for referrals, and they determine a tier and rank.

The signals are strong for a tokenless play: a top-two money market on a major chain, multiple audits, composability with Morpho and Ethena, and a structured points program. My take: "This is one of the few farms where the worst case still leaves you positioned somewhere valuable."

Felix Protocol airdrop details

• Project: Felix Protocol
• Chain: Hyperliquid (HyperEVM)
• Type: CDP borrowing protocol (authorized Liquity V2 fork)
• Status (Oct 2026): live since April 2025; weekly points; no token announced
• Stablecoin: feUSD, minted against collateral in a Trove
• Collateral: HYPE, WBTC, ETH, stETH, rETH
• TVL: about $440M when first covered (2nd-largest native money market on Hyperliquid)
• Audits: Dedaub and Coinspect
• Integrations: Morpho, Ethena
• Points: weekly, from minting feUSD, pools, vaults and referrals
• Nested exposure: HyperEVM activity also builds Hyperliquid footprint
• Join: Felix

How to farm the Felix airdrop (step-by-step)

You farm Felix by opening a Trove, minting feUSD, and putting that feUSD to work in Felix pools and vaults, week after week.

Stack it

Felix sits in the Hyperliquid cluster, so one position builds several footprints: Hyperliquid itself, Ethena (integrated with Felix) and Ethereal . The full chain map is in my Hyperliquid ecosystem guide .

Build it

A Trove health bot is the obvious build: watch collateral ratios, alert before liquidation risk, and suggest a top-up amount. Extend it to every Liquity V2 fork and it becomes a product. Ship it with Deployr .

How much does it cost to farm Felix?

Farming Felix costs the interest on your feUSD debt plus small HyperEVM gas; your collateral is locked, not spent. The real cost is liquidation risk if collateral falls and you do not maintain your ratio. A few hundred dollars of collateral at a conservative LTV is a practical start, and yield-bearing collateral partly offsets the carrying cost.

Is Felix Protocol safe and legit?

Felix is well credentialed for a tokenless protocol: a top-two Hyperliquid money market, audits by Dedaub and Coinspect, and a fork of Liquity V2, one of DeFi's most battle-tested CDP designs. The honest risks are CDP risks. Liquidation is real with volatile collateral. feUSD peg risk applies as with any CDP stablecoin. HyperEVM is younger than Ethereum mainnet. And the airdrop is unconfirmed. Use only the official usefelix.xyz domain, never approve a blanket allowance to "claim" anything, and never share your seed phrase . Read how to avoid airdrop scams .

Felix Protocol airdrop FAQ

Is the Felix airdrop confirmed?

No. As of October 2026 Felix has announced no token. Its weekly points program is live and sets your tier and rank.

How do Felix points work?

You earn points every week for minting feUSD, depositing into pools, using vaults and referring others. No conversion rate is published.

What is feUSD and how do I mint it?

feUSD is Felix's stablecoin, minted by depositing HYPE, WBTC, ETH, stETH or rETH into a Trove. You repay feUSD to unlock your collateral.

Does using Felix count for Hyperliquid?

Felix runs on HyperEVM, so your activity there is Hyperliquid ecosystem activity. Hyperliquid has not announced a second airdrop, but it holds a large reserve for future community rewards.

Can I get liquidated on Felix?

Yes. If your collateral value falls below the Trove's threshold, you can be liquidated. Keep a buffer.

What should I farm alongside Felix?

Hyperliquid , Ethena and Ethereal . Build your week with the airdrop planner and see my October 2026 roundup . Full board: the airdrops list .

Related: One deposit, two ecosystems , Ethena still pays post-TGE , and how to qualify for airdrops . Full list: browse the airdrops catalog .

Open a Trove on Felix and farm it with the nested exposure in mind.

Research, not financial advice. Web3 carries risk, do your own diligence.