Felix CDP · Hyperliquid L1

FEUSD (wstHYPE Stability Pool)

Overview

The Felix CDP FEUSD pool on Hyperliquid L1 is a single-asset stability pool where suppliers deposit the stablecoin FEUSD to earn yield. The protocol generates returns by leveraging deposited FEUSD in collateralized debt positions (CDPs), allowing borrowers to mint new FEUSD against posted collateral, and capturing fees from these operations. This pool stands as one of several venues for FEUSD on Hyperliquid L1.

Total APY is 8.78%, with no separate base or reward components indicated. The 7-day trend shows an increase of 1.90%, while the 30-day trend data is not available. Current APY exceeds the 30-day mean of 7.18%. This suggests a recent uptick in yield, possibly due to higher borrowing demand.

TVL is $70,613, with no specific change over the last seven days noted. Given its modest size, any movement could be significant relative to the pool’s scale. The primary risk here is depeg risk on the underlying stablecoin FEUSD. With this being a CDP mechanism, liquidity depth and borrower behavior are critical factors influencing stability and yield potential.

Composed 2026-05-22 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 9.21%; 30-day mean is 9.30%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Down" with 75% confidence based on historical patterns.

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