FelixNetwork☀️

Advanced financial account, enabled by stablecoins

[Felix @felixprotocol]

Spot STRC is now live on Felix. STRC investors on Felix have economic exposure to the current 11.50% annualized dividend for Strategy’s preferred stock.

Access STRC now at https://t.co/Q01qBwzEGP

[Charlie @0xBroze]

Seems many DeFi participants (both retail and institutional) are unsure how to assess lending protocol risk when looking for yield onchain and selecting among available protocols. This creates unnecessary panic (granted times of needed panic certainly still exist in DeFi). But to help avoid some of the unnecessary panic scenarios, here is a brief breakdown of a typical 4 step risk assessment most sophisticated DeFi lenders use today, with @felixprotocol Vanilla as an example:

Let's assume a panic is breaking out across DeFi, and you want to know whether your funds are safe now + will be safe over the days to come. Some steps:

1- Ensure this isn't a @Morpho protocol exploit as Felix Vanilla is built on Morpho (Morpho audit history here: https://t.co/N4MNDeTURX)

2- If interacting with https://t.co/DASFvccn8W, ensure there hasn't been a frontend compromise by using a tx simulator like that available in Rabby Wallet to confirm the contracts you're interacting with (if about to execute a tx) are indeed the official contracts and not a malicious contract you're about to interact with via a frontend exploit

3- Review what vault you're lending to. Was it USDH Frontier? If so, visit https://t.co/dcvtsVWn0O and review the collateral markets the USDH Frontier vault is lending to. Has one of these collateral assets been compromised? If no issue with #1, no issue with #2, no issue with the collateral markets being supplied to (and not a personal private key leak), your funds are likely safe and the panic is unwarranted. Still good to review exactly what collateral assets you're lending to before submitting a deposit, the utilization of each, and the security of each asset by checking their respective audit reports as well. Just part of DeFi lending DD

4- But if panic is still sweeping across DeFi, and you're concerned utilization of the vault you're lending to is going to remain near 100% due to high withdrawal rates + you need your capital soon, check HyperEVMScan to see recent withdrawal and deposit data. From this, you can assess whether the withdrawals are recurring from many addresses or one whale + the velocity of withdrawals. Example for USDH Frontier vault: https://t.co/AXyUlfRQzM

The power of Felix Vanilla / Morpho is the risk segmentation available across vaults. A lender to USDH Frontier is not by default exposed to USDT0 Frontier collateral markets. This makes the underwriting process much more straightforward for lenders, looking to avoid the pain of pooled risk. So you can take more aspects of DeFi risk into your control. Feel free to DM if in need of further risk help

[Felix @felixprotocol]

Spot oil exposure fully onchain

Trade here: https://t.co/dPXWI6VWyf

[Felix @felixprotocol]

Spot equities earnings on Felix this week — Apr 21–24

Aerospace & Defense
>GE Aerospace | $GE | Apr 21 | BMO
>RTX Corp | $RTX | Apr 21 | BMO
>Northrop Grumman | $NOC | Apr 21 | BMO
>Boeing | $BA | Apr 22 | BMO
>Lockheed Martin | $LMT | Apr 23 | BMO

Big Tech & AI
>Google | $GOOGL | Apr 22 | AMC
>Microsoft | $MSFT | Apr 22 | AMC
>Meta Platforms | $META | Apr 22 | AMC
>Tesla | $TSLA | Apr 22 | AMC
>IBM | $IBM | Apr 22 | AMC
>ServiceNow | $NOW | Apr 22 | AMC
>Apple | $AAPL | Apr 23 | AMC

Semiconductors
>Texas Instruments | $TXN | Apr 22 | AMC
>Lam Research | $LRCX | Apr 22 | AMC
>Intel | $INTC | Apr 23 | AMC
>KLA Corp | $KLAC | Apr 23 | AMC

Industrials & Infrastructure
>Vertiv | $VRT | Apr 22 | BMO
>AT&T | $T | Apr 22 | BMO
>Union Pacific | $UNP | Apr 23 | BMO

Healthcare
>UnitedHealth | $UNH | Apr 21 | BMO
>Thermo Fisher Scientific | $TMO | Apr 23 | BMO
>Financials
>Capital One | $COF | Apr 21 | AMC
>American Express | $AXP | Apr 23 | BMO

Mining & Materials
>Freeport-McMoRan | $FCX | Apr 23 | BMO
>Newmont | $NEM | Apr 23 | AMC

Energy
>NextEra Energy | $NEE | Apr 23 | BMO

Consumer Staples
>Procter & Gamble | $PG | Apr 24 | BMO

Trade all earnings at https://t.co/tWR45uSgF1

[Charlie @0xBroze]

Felix has no exposure to rsETH

Over the past day, lenders across DeFi have been withdrawing liquidity out of 1) fear of rsETH exposure and 2) overall concern with DeFi protocol security. To address both concerns briefly: 1) Again, Felix has no rsETH exposure and 2) Felix Vanilla is built with @Morpho's infrastructure; this allows us to inherit Morpho’s smart contract security and risk-isolated design, so Felix vaults only have exposure to the specific markets they lend to (e.g. If another curator on Morpho lends to rsETH collateral, this does not lead to negative impact on Felix lenders)

Some current supply rates on Felix for those interested:
>USDH Flagship: 19.01% ($4m USDH supplied)
>USDH Frontier: 23.97% ($11m USDH supplied)
>USDC Flagship: 11.31% ($31m USDC supplied)
>USDC Frontier: 24.48% ($18m USDC supplied)

These rates will likely be arbed down in the days to come as lenders enter to take advantage, realizing Felix has no rsETH exposure, and borrowers repay freeing up more available liquidity. For more information on who is currently withdrawing to create these high supply rates / whether this is one large whale or a number of addresses, check the four links below from HyperEVMScan for each Felix vault mentioned above—TLDR: withdrawals from these vaults have been spread across a number of different addresses, not one address.

>USDH Flagship: https://t.co/AvcuWG5IYd
>USDH Frontier: https://t.co/AXyUlfRQzM
>USDC Flagship: https://t.co/6WWyGkwf8G
>USDC Frontier: https://t.co/yvvnlPjy0Q

For those less aware, "Frontier" vaults and "Flagship" vaults lend to different collateral markets (Frontier vaults tend to lend to higher max LTV collateral markets--higher risk + higher return). To see all current collateral exposure for each vault on Felix, check out: https://t.co/dcvtsVWn0O

For more risk metrics across Felix vaults, feel free to check out our internal risk monitoring platform here: https://t.co/d1RKMQF3Jc

If you have questions on Felix's risk practices, how we build with Morpho, current collateral exposure, how we price collateral, how Flagship vs Frontier vaults differ, etc, feel free to DM me

[Felix @felixprotocol]

What's the latest with Felix lending?

Over the past week, deposits across Felix Vanilla + CDP have grown from $573M to $645M, up by ~12.6%, driven by continued HYPE growth. Stablecoin deposits have remained steady around $95-100M. Borrow demand remains healthy across the platform, with USDC Flagship at 4.32% APY and USDH Flagship at 5.11% APY as of today.

Across Felix Vanilla, borrowing has continued to increase alongside that growth. Total borrows now stand at roughly $122M, with 6.7K active positions across Felix lending markets. Most borrow positions remain well-collateralized, with 4,241 positions above 1.35 HF. Only 104 positions currently sit in the 1.00-1.20 HF buffer range, with collateral at risk of liquidation at roughly $2.9M, or about 0.8% of total collateral.

As far as DaR + CaR today, we monitor debt at risk and collateral at risk through real time scenario testing across the vault suite. Under a 3σ collateral drawdown, modeled DaR is about $1.58M and CaR about $2.15M. Even a 5σ shock remains fully liquidatable. Our DEX + orderbook monitoring makes sure ≤ 3σ swings do not threaten solvency.

Supply utilization across Felix Vanilla sits now over 91% ($122m assets borrowed of $134m assets lent out). If interested in lending to the borrower base on Felix and looking for support, feel free to reach out. More information to come on spot equities borrow/lend.

[Felix @felixprotocol]

What were the best public equities to hold in 2025? A brief breakdown across chips, memory, AI software, energy, and healthcare here:

> AI Chips: Broadcom (AVGO) Surged +100% in 2025. Major hyperscalers are quietly replacing NVIDIA with Broadcom's custom silicon

> Memory: Micron Technology (MU) NVIDIA's confirmed HBM supplier, sold out through all of 2026 before January started. Had approximately 239% rise in 2025.

> AI software: Palantir (PLTR) The AI platform that runs on data governments can't share with anyone else. Had a +135% run in 2025.

> Energy: Vistra (VST) AWS and Meta are signing 20-year nuclear deals with Vistra. Serves the need for power that never goes offline for AI. Price went up +165% in 2025.

> Healthcare: Eli Lilly (LLY) FDA approved their oral GLP-1 pill on April 1st. The barrier of not being able to take injections for 70% of eligible patients is now gone. +21% rise in 2025.

These assets are now available for spot trading using Felix spot equities. With the IGV (Software sector ETF), XLV (Health Care sector ETF) and XLU (Energy sector ETF) coming in the next listing batches soon.

Trade equities onchain here: https://t.co/1G0UIVWbzM

[Felix @felixprotocol]

Felix spot equities allow traders to enter short term positions on different earnings reports without having to offramp to access deep liquidity, incur FX costs, or endure long settlement times.

This week users can trade spot on the following earnings reports:

Tuesday 14 April:
>Bitmine (BMNR)
>BlackRock (BLK)
>Citigroup (C)
>Johnson and Johnson (JNJ)
>JP Morgan (JPM)
>Wells Fargo (WFC)

Wednesday 15 April:
>ASML Holding (ASML)
>Bank of America (BAC)

Thursday 16 April:
>Abbott Laboratories (ABT)
>Charles Schwab (SCHW)
>Netflix (NFLX)
>Pepsico (PEP)
>Taiwan Semiconductor (TSM)

[Felix @felixprotocol]

Today, April 8, marks one year of Felix going live with our first product in production: lending. As this first year comes to an end, the final points distribution will take place this Friday, April 10.

In the last year, we have built a start for Felix: we built the largest stablecoin lending market for HYPE holders and went 0 -> 1 on a series of RWA trading products (RWA perps, spot equities).

Through the experiences of the last year, it has become clear that we are only scratching the surface of DeFi’s potential. Ultimately, DeFi can proliferate the dollar and dollar-based financial services into every under-served market in the world. To name three of the many examples of mass-market value creation enabled through DeFi: 1) the ability to escape one’s local hyperinflationary currency; 2) the ability to have a self-custodial financial account instead of forced reliance on traditional intermediaries; 3) the ability to access an unfettered brokerage account for the previously "un-brokered."

In just the last year, much progress has been made in Hyperliquid on the path to solve of these needs (e.g the rapid growth of RWA perps bringing access to TradFi asset exposure to anyone with a crypto wallet) as well as beyond Hyperliquid (e.g the continued growth in stablecoin market cap during a down year for BTC and crypto prices at large) - but much work remains. Whether that’s improving the rails between fiat <> stablecoins (from USD, but even more so for other currencies where FX rates are exorbitantly expensive), building out a wider selection of trading product support across asset classes and instrument types, building the elegant application layer that rivals the likes of what Robinhood and Revolut have accomplished for US brokerages and EU brokerages respectively, or accomplishing the geographically widespread go-to-market coverage that IBKR has dominated (finding a way to gain mass market share from LATAM to East Asia and beyond), many high-impact areas remain unsolved for DeFi.

Our focus at Felix is solving these problems in order to enable the full potential of DeFi. As always, our team is excited to hear your feedback as we pursue these high-impact, unsolved problems in DeFi today.

[Felix @felixprotocol]

On Felix, which spot equities/ETFs/indices can I trade for large order sizes with the same execution cost as an offchain brokerage?

There are 31 of 264 spot ETFs and equities that can be purchased or sold on https://t.co/1G0UIVWbzM for individual market orders of $500,000 - $2,250,000 with execution costs at parity with those on offchain brokerages (IBKR, Charles Schwab, ETrade).

Those assets are:

Alphabet (Google)
Alibaba
Apple
AMD
Amazon
Boeing
Broadcom
Coca-Cola
Costco
Disney
Eli Lilly
General Electric
IBM
Invesco QQQ
iShares Gold Trust
iShares Core S&P MidCap ETF
Intel
iShares Core S&P 500 ETF
iShares Russell 2000 ETF
iShares Silver Trust
JPMorgan Chase
Meta Platforms
Microsoft
Netflix
NVIDIA
Oracle
PepsiCo
Procter & Gamble
Palantir Technologies
Salesforce
SPDR S&P 500 ETF

This list will grow over time and is possible because of the mint redeem design available on Felix.

[Felix @felixprotocol]

What are the key benefits of the Felix spot equities RFQ architecture? One is driving costs down for users who want to buy stocks onchain.

As an example, today, user 0x0Db…33E6 bought $100,000 of spot Nvidia (NVDA) and $100,000 of spot Taiwan Semiconductor Manufacturing (TSM) fully onchain via Felix. Right now, each of those trades would have a net execution cost of 10.6 bps and 11.1bps respectively: no more 200bps added slippage when buying spot equities onchain.

Tx hashes:
>0x69f5db529ce47f9c09cc4a13dfec4dec1747d5d2a59b05afa81fd2fca34ed69b
>0x617e36446d38c0951a8747784aff7d39996a65223e514ce4f4da45f96c54f4d0

Trade equities here: https://t.co/1G0UIVWJpk

[Felix @felixprotocol]

The following upgrades are now live for Felix HIP-3 perp markets

Max leverage upgrades:
• Silver 20x -> 25x
• Gold 20x -> 25x
• Platinum 20x -> 25x
• Palladium 20x -> 25x
• USA500 20x -> 30x
• USA100 20x -> 30x

Cross margin is now enabled for:
• USA500
• USA100
• TSLA
• NVDA

On Monday, April 6, price feeds for Copper and Oil will be rotated from LMAX feeds to CME feeds. Updated pricing is available in the Felix Docs

[Felix @felixprotocol]

How to set up a delta-zero funding rate farm today using Felix spot equity markets? Here's a step by step of how this looks in practice using Felix spot equities and Hyperliquid HIP-3 perps:

With Felix spot equity markets live, traders are now able to earn yield without taking directional exposure on the underlying equity. This can be done by creating a delta-neutral basis trade (holding the same asset on both ends (spot / short perp)), allowing users to pocket the funding rate as yield. In order to set this up, you need to 1) deposit USDC into Felix spot equities through HyperCore Spot, HyperCore Perps or Ethereum mainnet. 2) Buy the spot equity of your choice on Felix out of 264 assets currently available. 3) Open a short position on the same ticker on HIP-3 with matching position size to remain delta-neutral. 4) Hold + monitor the positions to collect funding

An example available today? Let’s take MU (Micron). Current funding rate for MU from TradeXYZ on HIP-3 is ∼34%. If you have a $100,000 spot MU position on Felix and $100,000 short perp position via HIP-3 (which can also be $20,000 margin at 5x max. leverage), you can then farm that ~34% funding rate without directional MU exposure. Important to note: funding rates on equity perps are not constant 24/7 and may spike during US equity market hours when directional long demand increases + may drop near zero during overnight hours / weekends. This means your capital is likely earning maximum yield roughly 35 of 168 hours per week. This requires some regular monitoring in order to keep track of the rates your capital is achieving. No rate is constant, so being on the ball is the name of the game.

As of now, you can run this strategy with 26 equities, with more spot equity markets coming on Felix spot equities and more perps coming from Felix, TradeXYZ, Markets and more HIP-3 deployers.

Open the trade here: https://t.co/1G0UIVWbzM

[Felix @felixprotocol]

GAS-USDH perp is now live to trade on Felix

The starting parameters of the market are the following:
>Starting max leverage is 5x
>Starting OI cap is set at $2.5M
>On-hours and Off-hours pricing follows the specification in Felix docs below

Trade here: https://t.co/CJK48eBnGR
Docs can be viewed here: https://t.co/voopQoB7Dq

[Felix @felixprotocol]

USA100-USDH perp is now live to trade on Felix

The starting parameters of the market are the following:
>Starting max leverage is 20x
>Starting OI cap is set at $2.5M
>On-hours and Off-hours pricing follows the specification in the docs below

Trade here: https://t.co/c2XF0uWo99
Docs can be viewed here: https://t.co/BDL3iaFz7W

[Felix @felixprotocol]

Step by step flow to buy spot equities on Felix today

&gt;Deposit USDC from HyperCore spot, HyperCore perps, or Ethereum mainnet balance
&gt;Buy spot equities fully on-chain

264 assets live today. What are we missing?

Trade here: https://t.co/2zfOo5x17S

[Felix @felixprotocol]

Tokenized stocks and ETFs are now live on Felix

On-chain traders no longer have to off-ramp funds to gain exposure to US capital markets. Additionally, Felix users now have the ability to trade tokenized stocks/ETFs in large order sizes without the steep execution costs that have plagued on-chain adoption up until now (Example: Buy $1M in GOOGL on Felix with a net execution cost less than 10bps today).

Trade over 250 different assets now: https://t.co/tWR45uSgF1

Not available in the U.S. and other prohibited jurisdictions.

[Felix @felixprotocol]

All stocks and ETFs are built on @OndoFinance’s tokenized spot infrastructure.

All assets are backed by real shares off chain. Each asset from Felix gives a user economic exposure to the underlying asset’s price action and dividends or interest. All purchases and sales closely mirror the underlying shares' respective transactions on the NYSE or Nasdaq, allowing for tradfi-level execution fully on-chain across hundreds of available assets.

[Felix @felixprotocol]

Future iterations of Felix stocks & ETFs will be designed to create an on-chain brokerage-style experience for on-chain natives, enable limit orders and DCA across Felix assets, provide exposure to international equities (Korea, Japan, India, etc), add support for hundreds more US equities, integrate stocks and ETFs as collateral assets on Felix lending markets, and more.

Trade now: https://t.co/tWR45uSgF1
More info: https://t.co/KcY3OkDzoO

[Charlie @0xBroze]

incoming: buy space stocks fully onchain via @felixprotocol

feel free to dm if interested in joining the final spot equities beta cohort