Felix CDP · Hyperliquid L1

FEUSD (WHYPE Stability Pool)

Overview

The Felix CDP FEUSD pool on Hyperliquid L1 is a single-asset stablecoin position where suppliers earn variable interest on FEUSD deposits. The protocol generates yield by collateralizing and liquidating over-collateralized debt positions to maintain stability.

Total APY stands at 9.05%, with no additional reward component. Over the past week, the rate has decreased by 0.45%, while there is no trend data available for the past month. This places the current rate below the 30-day mean of 9.26%.

TVL currently sits at $8.34M without a reported 7-day change. The primary risk exposure here is depeg risk on the underlying stablecoin, given that this is a single-asset pool focused on FEUSD stability.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 4.97%; 30-day mean is 6.69%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 86% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.