Felix

Modern financial account, powered by stablecoins

[Felix @felixprotocol]

Felix agent security

Over the past 8 months, a series of exploits, multiple likely using frontier AI models to find frontend and smart contract-level vulnerabilities in DeFi apps, have altered the DeFi risk landscape gravely. This has led to a clear re-underwriting of acceptable DeFi risk and yield profiles. To combat this threat, Felix Labs has been putting in place what we are terming for now our agent security system.

Concretely, this means:
• Every code change is reviewed by the latest available frontier models before deployment, alongside our existing audit and human review process.
• Ongoing model-driven review of the deployed Felix codebase and our OpSec processes, re-run as newer models become available.
• Reviews operating alongside our existing monitoring systems covering both system risk and collateral risk.

No security system is a guarantee. However, what this does accomplish is 1) meaningfully raise the cost for a malicious actor and 2) adds a detection layer that improves with every model generation.

Risk and security continue to be our priority #1 at Felix. Offering the best yields to Hyperliquid lenders and the best capital efficiency to borrowers are both key value propositions but secondary if protocol solvency is not first in check. Feel free to reach out if interested in hearing more on our systems.

[Felix @felixprotocol]

@copernicvs Please check again now @copernicvs

[Felix @felixprotocol]

Lenders can now earn >10% Apy on the Felix Vanilla $USDC vault

Lend here: https://t.co/9GbLzlXEle

[Felix @felixprotocol]

Perform a delta neutral HYPE carry on Felix

You can deposit @kinetiq_xyz kHYPE, borrow $USDC at ~7% net (incentivized), then go short $HYPE on HyperCore.

Return profile on $100k a side ($200k gross):

− $12.3k funding (30d avg)
− $1.87k kHYPE staking
− $3.17k borrow cost
≈ $11.0k/yr net

Borrow here: https://t.co/3mfKBnPCgh

[Felix @felixprotocol]

The third round of $USDC incentives is now live on Felix

Incentives go to both $USDC lenders and borrowers on the kHYPE/USDC market (77% max LTV).

Lend $USDC on Felix Vanilla vaults, powered by @Morpho, or borrow $USDC against @kinetiq_xyz kHYPE and keep your HYPE staked heading into Elysium.

Lend and borrow here: https://t.co/6CVEyttMvf

[Felix @felixprotocol]

Borrow 18% more against HYPE on Felix Vanilla, at less than half the rate.

77% LLTV on HYPE/USDC
7.90% borrow APY vs 17.96% on HyperCore

Borrow here: https://t.co/bVV2LMwgW6

[Felix @felixprotocol]

Felix Vanilla has now paid over $10,900,000 in interest to lenders since launch.

$11.85M in gross interest generated
$33.8M deposited across Felix vaults today
Top earners: USDT0 ($2.87M), HYPE ($1.77M), USDC ($1.53M)

Lend here: https://t.co/OoRdtEeYWp.

[Felix @felixprotocol]

Put your stables on Hyperliquid to work.

Earn 4.45% on $USDC and 6.68% on $USDT0 with Felix Vanilla vaults.

Lend here: https://t.co/9GbLzlYcaM

[Felix @felixprotocol]

>7% APY available now for lending HYPE on Felix Vanilla

See here: https://t.co/OoRdtEfwLX

[Felix @felixprotocol]

More full breakdown of V2 vaults here: https://t.co/YTbQzMIm2I

[Felix @felixprotocol]

The benefits of V2 vaults and why we've upgraded to V2

Last week, we went live with Morpho V2 vaults on Felix, upgrading from the Morpho V1 vaults. The V1 vaults remain live and active during the migration process, but what are the benefits of V2? The full benefits will be linked in the tweet below, but here is a overview of two of the key upgrades:

1. New yield sources
Via the new adapter model for V2 vaults, Felix vaults can now lend to other sources of yield for finding the highest risk-adjusted yield for Felix lenders. In the future, this could include other protocols on HyperEVM or HyperCore Earn, letting users find the best yield across Hyperliquid in a passive, risk-managed way

2. More granular risk controls
V2 vaults include more granular risk parameterization and separation including upgrades like allowing for absolute caps and relative caps (e.g. USDC lending to HYPE cap of $10m vs only lending X% of USDC vault supply against any particular asset). V2 vaults also include more role separation across the vault control stack (owner, curator, allocator, and sentinel)

Felix vaults are all non-custodial and deployed with the @Morpho stack. If you’re a lender interested in earning yield on Felix or a current Felix lender with more questions on the upgrade from V1 to V2 vaults, feel free to reach out to us. In order to migrate to V2, just connect your wallet you have a V1 vault position with on the Felix app, and click “Migrate.”

[Felix @felixprotocol]

Felix vaults V2 via @Morpho are now live.

The new V2 vaults merge the prior V1 flagship and frontier vaults in order to unify liquidity and allow for a smoother borrower experience on Felix. Frontier vaults may return in the future once more long-tail collateral assets are scaling on Hyperliquid.

Lend to the new vaults here: https://t.co/NBsuFH4Qx2

[Felix @felixprotocol]

Felix spot equities has crossed $50,000,000 in volume since launch

Trade all of the 440+ assets at https://t.co/2zfOo5x17S

[Felix @felixprotocol]

@unfinished_kek You can currently export private key for the embedded wallet and then send those tokens to EOA @unfinished_kek. Feel free to reach out if you need assistance with this

[Felix @felixprotocol]

EOA mode is live for Felix spot equities

Based on early feedback, users wanted the ability to hold Felix spot equities in their own EOA wallets, outside of the embedded account system. Now, users can trade and hold spot equities onchain directly in EOA wallets (including hard wallets).

Trade spot equities onchain today at https://t.co/1G0UIVWbzM

[Felix @felixprotocol]

Spot equities earnings on Felix this week

Tuesday, August 18
> Baidu (BIDU) — before market open
> Home Depot (HD) — before market open

Wednesday, August 19
> Lowe's (LOW) — before market open
> Analog Devices (ADI) — before market open
> Wolfspeed (WOLF) — after market close

Thursday, August 20
> Walmart (WMT) — before market open
> NetEase (NTES) — before market open
> Deere & Company (DE) — before market open

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

[Felix @felixprotocol]

Utilization across Felix USDC and USDT0 vaults remains elevated across markets over the past month.

Strong borrow demand from Hyperliquid traders across kHYPE, HYPE, wstHYPE, UBTC, and UETH collateral markets continues to support higher yields for lenders across both USDC and USDT0 vaults on Felix Vanilla.

Earn on USDC and USDT0 vaults here: https://t.co/6CVEytteFH

[Felix @felixprotocol]

USDT0 vault utilization has remained at ~90% on average this week.

Where is the yield coming from? Strong borrow demand across the kHYPE, HYPE, UBTC, and wstHYPE markets continues to support elevated rates for USDT0 lenders.

Earn 12.09% APY on USDT0 here: https://t.co/6CVEytteFH

[Felix @felixprotocol]

Felix spot equities has crossed 10,000 trades since launch

Trade all 440+ assets at https://t.co/h8bCwr9yhf

[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]

Felix Vanilla has now processed over $2,000,000,000 in loans since launch.

Powered by @Morpho

[Felix @felixprotocol]

Felix Vanilla market utilization has held at an average of 79.4% over the past 30 days.

Borrowing demand from Hyperliquid traders remains strong relative to supply, creating an opportunity for USDC lenders to earn higher natural yield over longer durations than other money markets on other chains.

Earn 14.33% APY on USDC now: https://t.co/NBsuFH4Qx2